FLUROTECH FILES EXPEDITED EXAMINATION AT USPTO AND UPDATES GLOBAL PATENT STRATEGY
March 07 2019 - 8:04AM
InvestorsHub Cannabis NewsWire
FLUROTECH FILES
EXPEDITED EXAMINATION AT USPTO AND UPDATES GLOBAL PATENT
STRATEGY
Calgary, ON -- March 7, 2019 -- InvestorsHub
NewsWire -- Flurotech
Ltd. (TSX-V:
TEST)
(OTCQB:
FLURF),
(“FluroTech”
or the
“Company”)
is pleased to announce that a favorable Written
Opinion
(“WO”)
has been received
for Patent Cooperation Treaty
(“PCT”) Patent Application No. CA2018/051387 (the
“PCT Application”). The PCT Application
entered national phase in the United States Patent and Trademark
Office (the “USPTO”) on November 2,
2018. In the
WO all 58 pending claims as
filed were both novel and inventive. Based on this favorable
WO, a request for accelerated examination may be filed at the
USPTO. A request for accelerated examination of
claims 1 to 32 was filed at the USPTO on March
6, 2019. The remaining claims 33 to 58 of the PCT Application
have not yet been filed at the USPTO but may be filed in a
continuation application at the
USPTO.
The Company holds exclusive,
irrevocable rights for application of the subject matter of the PCT
Application and the US Application for use globally in the hemp and
cannabis industry. In addition to the national phase entry in
the United States, the PCT Application may be filed in any
additional member states of the PCT, which currently includes 152
countries.
The CompleTestTM
hemp and cannabis testing device applies technology to improve
signal stability in the face of thermal and other fluctuations in
the light source, which in turn facilitates improved sensitivity
and accuracy, particularly for portable instruments. The
technology applied in the CompleTestTM device is claimed
in the pending PCT Application and US
Application.
“The
Canadian Intellectual Property Office acting as International
Search Authority found no issued patents or published applications
describing or making obvious the proprietary technology applied in
the CompleTestTM system and claimed in the patent
applications. This positive outcome at the international PCT stage,
provides access to accelerated examination of all 32 claims filed
in the United States. A continuation application including
the other 26 claims that were found novel and inventive at the PCT
stage and can also be filed in the United States, and accelerated
examination will be available for those claims as well,” stated Dr.
Elmar Prenner, Chief Technology Officer at FluroTech.
“Additionally, the Company is developing technology for biomarking
and is working with our legal counsel to draft and file patent
applications protecting that technology, expanding the patent
portfolio and supporting FluroTech’s commercialization of a second
line of business.”
Developments on other
advanced designs for future generations of the
CompleTestTM system to maintain the Company's technical
lead are in
progress.
“FluroTech believes it is
emerging as a leader in the cannabis and hemp-house testing space
with the development of badly needed technology to improve accuracy
and repeatability. We believe with our data that we are meeting
that need.” commented Danny Dalla-Longa, Chief Executive Officer at
FluroTech. “Global regulation, rather than prohibition, of cannabis
and hemp-flower products, and particularly loosening regulations
around CBD products in certain countries, is encouraging FluroTech
to leverage its global patent strategy. The export and import of
analytical testing devices such as CompleTestTM system
are not highly regulated, which increases the global testing market
the Company can access. The Company is contemplating licensing
opportunities in additional geographical jurisdictions and is in
negotiations with international distributors to allow for quick
sales expansion of the CompleTestTM
system.”
About the CompleTest™ System
The CompleTest™
system is FluroTech’s flagship brand and product line. The CompleTest™ system is a portable,
cost-effective, state-of-the-art hemp and cannabis testing device,
able to provide fast, accurate and consistent testing results. It
is designed for cultivators, processors, nurseries, researchers,
other federal licensees, and even individuals with an interest in
optimizing phytocannabinoid yield or consumer safety of cannabis
products.
About FluroTech
(TSX-V: TEST)
(OTCQB: FLURF)
FluroTech is a technology and
marketing company whose core business is focused on the
commercialization of new technologies in the cannabis industry.
FluroTech’s proprietary
spectroscopy-based technology allows for the testing and
identification of organic and inorganic compounds contained within
biological samples. Using the technology that was developed in part
at the University of Calgary, FluroTech
has developed a two-part solution comprising an instrument called
the CompleTest™ system and consumable
testing kits for the CompleTest™
system.
To
learn more, visit www.FluroTech.com.
Contact
Information
Danny
Dalla-Longa
Chief Executive
Officer
403.680.0644
danny@flurotech.com
FluroTech
Ltd.
Alistair Ross Technology
Centre
Suite 111, 3553-31 Street
NW
Calgary, AB T2L
2K7
info@flurotech.com
This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any of the securities. The securities described herein have not
been and will not be registered under the United States Securities
Act of 1933, as amended, or the securities laws of any state and
may not be offered or sold within the United States or to or for
the benefit or account of U.S. persons, absent such registration or
an applicable exemption from such registration
requirements.
Cautionary Statement
Regarding Forward-Looking
Information
This news release contains
"forward-looking information" within the meaning of Canadian
securities legislation. Forward-looking information generally
refers to information about an issuer’s business, capital, or
operations that is prospective in nature, and includes
future-oriented financial information about the issuer’s
prospective financial performance or financial position. The
forward-looking information in this news release includes
disclosure about the filing of a continuation application in
respect of certain of the claims, the filing of the PCT application
in additional member states of the PCT, the benefits of the WO to
the Company, the development of the Company’s biomarking and the
intellectual property strategy in connection therewith, development
for advanced designs for future generations of the Company’s
technology, the Company’s position as a leader in the cannabis
testing space, the U.S. and global hemp
market opportunity for the CompleTestTM system,
FluroTech’s ability to expand the addressable market, the ability
to develop a hemp testing protocol and the timing of the protocol
completion and future licensing opportunities for the
Company.
The
Company made certain material assumptions, including but not
limited to prevailing market conditions and general business,
economic, competitive, political and social uncertainties, the need
and demand for hemp testing protocol utilizing the
CompleTestTM system in the U.S. and
globally, the continuation of the trend of regulating and not
prohibiting cannabis and hemp-flower products, including CBD and
the success of future intellectual property filings, to develop the
forward-looking information in this news release. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking
statements.
Actual results may vary from the forward-looking
information in this news release due to certain material risk
factors. These risk factors include, but are not limited to,
adverse market conditions and regulatory and other risks associated
with the cannabis and hemp industry in general, users of the
Company’s CompleTestTM
system and the
CompleTest™
system failing to
achieve the anticipated benefits of the product, changes to the
anticipated regulatory regime in respect of the cannabis and hemp
industry, competition from other developers of similar technology,
failure to obtain patent or other intellectual property protection
for the company, failure to reach commercialization of the
technology and failure for the products anticipated market to
develop. The Company cautions that the foregoing list of
material risk factors and assumptions is not
exhaustive.
The
Company assumes no obligation to update or revise the
forward-looking information in this news release, unless it is
required to do so under Canadian securities
legislation.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of this
release.
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