Hamilton, Ontario, Oct. 01, 2018 (GLOBE NEWSWIRE) -- CTT Pharmaceutical Holdings Inc. ("CTT") (OTC: CTTH) announced today that it is seeking an injunction to restrain Rapid Dose Therapeutics Ltd. (RDT), a Canadian company which recently announced a Memorandum of Understanding (MOU) with a Canadian licensed producer, from misusing CTT’s confidential information and intellectual property and from selling its “QuickStrip” or any other oral thin film wafer of medicine, including cannabinoids.

Pursuant to a previously written agreement between the parties, and in anticipation of a transaction which ultimately did not occur, CTT Pharma disclosed certain confidential information to RDT, including access to information regarding its patents, key individuals, and suppliers required to develop and manufacture an oral thin film wafer.

Dr. Pankaj Modi, CEO of CTT and developer of the technology owned under patent by the Company said, “I introduced the people behind RDT to the technology I developed in good faith expecting the agreement we signed to be honoured. The agreement expired with no communication from the people behind RDT and many months later the information I gave to them in confidence was being used for their own purposes.”

Cam Birge, President of CTT Pharma said, “We will defend our intellectual property at all costs to protect the investment of our shareholders.”

The following list details all of CTT’s patents, their filing dates, and issuance dates in Canada and the United States:

Canadian Patents

Patent #2624110; Filed; 2008/03/27 Issued; 2010/11/09 - Dissolving Orally Administrable Wafer Formulation Patent #2910206; Filed; 2015/10/23 Issued; 2016/12/13 - Novel Therapeutic Composition Patent #2922959; Filed; 2016/03/03 Issued; 2018/01/02 - Orally Administrable Composition

US Patents

Patent #8623401; Filed; 2008/03/27 Issued;2014/01/07 - Wafer Formulation Patent #9833461; Filed; 2015/19/27 Issued;2017/12/05 - Therapeutic Compositions Comprising Cannabinoids and Corticosteroids Patent #2017/02523000A; Filed; 2017/04/07; Pending - Orally Administrable Composition

About CTT Pharmaceutical

CTT’s principal asset is a unique and novel patented drug delivery technology, an orally administered, fast dissolving thin film (the “Wafer”). This technology platform will target both the human and veterinarian (pet) markets for treatment of many diseases. The Company believes that its Wafer technology will be one of the first to gain use in major markets such as pain management. Several Canadian and U.S. patents protect the Oral Thin Film (Wafer) formulation.

CTT’s oral fast dissolving drug delivery systems consist of edible Wafers that dissolve without water and within a few seconds after placement in the mouth. The majority of drugs administered using our drug delivery system mirror injections in that they have the ability to enter the bloodstream quickly, are convenient and discrete, and can be administered anywhere. A faster absorption rate is achieved because the mouth contains a very thin mucosa and is extremely vascular. There is no smoke inhalation, less degradation of medication (by bypassing the stomach) and most importantly lower dosage units are required given the efficacy of absorption. Patient compliance is also improved especially with those who have a fear of choking or difficulty swallowing, and/or are pediatric, geriatric or incapacitated.

For more information, please visit our website: www.cttpharmaceuticals.com .

CTT’s common shares trade on the OTC market in the United States under the symbol “CTTH”.

Forward looking statements

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The company is under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

For more information, please contact:

Cam Birge – President,

info@cttpharmaceuticals.com

+1-800-516-1635