In OWC Pharmaceutical Research Corp (OTCMKTS: OWCP) we have a stock that we’ve continually come back to cover time and time again here on Street Register, and we’ve got a couple reasons to do so today.
The developer of a proprietary active cannabinoid-based topical cream for psoriasis management which has been found to be highly effective, OWCP has taken steps to protect its intellectual property vis a vis that treatment in the European markets.
This week OWC Pharmaceutical Research Corp (OTCMKTS: OWCP) revealed that it had filed a patent application with the European Union Patent and Trademark Office for the active cannabinoid-based psoriasis topical cream. (The patent application number is EP 17178303.8)
This action by OWC is a key step in the Company’s continuing program to fully protect its intellectual property (IP). OWC’s strategy in seeking to fully protect its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration.
Commenting on the filing of the patent application, Mr. Mordechai Bignitz, Chairman and CEO of OWC Pharmaceutical Research, stated, “Our primary short-term objective is to introduce our topical cream for skin conditions including, most importantly, psoriasis to the market. Our necessity to fully protect our intellectual property limited our ability to provide potential customers and partners with the required data for their due diligence and review. Our proprietary data includes specifics regarding the formulation of the topical cream, consisting of cannabinoids and other compounds that facilitate the efficient delivery of the cream to infected areas. The filing of this European patent application also enables us to fully discuss with potential customers and partners the requirements for manufacturing the cream in accordance with national and local regulations. It also enables us to provide potential customers and partners with the manufacturing requirements, based on the highest-level of international standards and protocols, and includes specifics regarding the manufacturing process including required equipment and systems.”
Further commenting on the filing of the European patent application, Dr. Yehuda Baruch, the Company’s Chief Science Officer and OWC’s Director of Research and Regulatory Affairs stated, “The European market is very important to OWC and our product implementation strategy. Populous European countries including Germany, Italy, Spain and r Greece all have medical cannabis programs, and therefore are key markets for our psoriasis cream.” (Source: PR Newswire)
According to Global Data and the World Health Organization, the reported prevalence of psoriasis in countries ranges between 0.09% and 11.4%, making psoriasis a serious global problem with at least 100 million individuals affected worldwide. The global market of psoriasis treatments is expected to increase from a value of $6.6 billion in 2014 to more than $13.3 billion by 2024.
That leaves OWCP uniquely positioned to capitalize on a piece of that action, and protecting its portfolio is an important step in that process. One thing is for sure, with data suggesting that the company’s treatment improves the symptoms of psoriasis by as much as 70%, OWC Pharma is a name that could be set to grow in recognition considerably in years to come.
In the meantime, the stock itself is rebounding off of recent relative lows, so there is certainly short-term interest here as well. Stay locked to Street Register for updates, and we’ll deliver important developments on OWCP as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in OWCP stock, short or long.