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Codebase Investment Adds Oral Mucosal Patent Filing Expanding Transdermal Treatments

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Hydroxychloroquine current on-label use as a treatment against malaria, lupus and rheumatoid arthritis provides a ready market for this proposed new delivery system, which can eliminate or reduce a number of the common side effects of this treatment, including nausea, vomiting, loss of appetite, diarrhea, dizziness, or headache.

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Company: Codebase Ventures
Website: http://www.codebase.ventures
Stock Symbol: CSE: CODE
Date Published: Apr 23, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for InvestmentPitch Media

Codebase Ventures, an investment company, has expanded on its recent news relating to a new transdermal delivery system for a decades old drug used in the treatment of malaria, lupus and rheumatoid arthritis.

Codebase recently entered into an arms-length agreement to acquire a 49% interest in a private company, Glanis Pharmaceuticals Inc., that recently filed for a US provisional patent for the transdermal delivery of hydroxychloroquine.

Glanis has now filed for an additional US provisional patent for the novel oral drug delivery of both hydroxychloroquine and chloroquine.

In oral mucosal drug delivery, an oral mucosal patch or orally disintegrating composition is applied to the mucosal surface of the oral cavity where it is continuously released and delivered through the intact mucosa throughout the day.

George Tsafalas, President & CEO, stated: “With the previously announced transdermal patch filing, and now this novel oral delivery filing, steps are advancing quickly to satisfy a need for an improved drug delivery system of CQ and HCQ, which can replace the multiple dosage regimen associated with oral tablets and also decrease the probabilities of getting side effects related to GI tract disturbance.”

While HCQ is the subject of various early studies of its effectiveness against Covid-19, its current on-label use as a treatment against malaria, lupus and rheumatoid arthritis provides a ready market for this proposed new delivery system, which can eliminate or reduce a number of the common side effects of this treatment, including nausea, vomiting, loss of appetite, diarrhea, dizziness, or headache.

In addition to reducing the dosing frequency of CQ and HCQ, which is currently administered orally 2-3 times a day, with oral mucosal delivery, the drug is delivered slowly and continuously throughout the application, thereby eliminating the peaks and troughs of drug plasma concentration commonly associated with multiple dose deliveries.

As consideration for this additional provisional patent and on-going work, Codebase will pay US$20,000 and issue up to 6 million shares at a deemed price of $0.05 pursuant to a lab services agreement with New York based Reformulation Research Laboratories Inc., the developer of the patent application and the underlying technology.

The agreement is subject to closing conditions usually found in transactions of this kind.

With a combined 75 years of expertise in novel drug delivery systems, Reformulation Research can provide the capacity, equipment and capabilities necessary to advance the development program for a HCQ molecule for oral mucosal delivery from the research, testing, and regulatory approval stages through to the launch of the HCQ oral mucosal delivery system.

This transformative delivery system will initially target Covid-19 through FDA’s accelerated pathway provisions.

Codebase cautions that it is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 at this time, nor is Research Laboratories making any express or implied claims that any of its products have the ability to deliver HCQ through transdermal/oral methods at this time.

As an investment company, CodeBase’s mission statement is to make strategic investments in those fields where emerging, innovative technology has the potential to upend traditional models and deliver the greatest value to shareholders.

The shares are trading at $0.02.

For more information please visit the company’s website www.codebase.ventures, contact George Tsafalas, President and CEO, or Ivy Lu, Investor Relations, at 778-806-5150 or email ir@codebase.ventures.

I’m Fiona Forbes for InvestmentPitch Media