Yahoo Finance RAMM Pharma Receives Federal Pharmaceutical Approval and Registration of NettaVet™ 10% CBD Formulation, a First for Veterinary Medicine
Pet CBD Oil
NettaVet™ 10% CBD, 10mL Format
TORONTO, April 20, 2021 (GLOBE NEWSWIRE) -- RAMM Pharma Corp. (including its wholly owned subsidiaries, the “Company” or "RAMM") (CSE: RAMM) (OTC: RAMMF), a leader in plant-derived cannabinoid pharmaceutical products, is pleased to announce that the Uruguayan Ministry of Agriculture, Livestock and Fisheries (MGAP) through its Veterinary Laboratories Division (DILAVE) has approved and registered NettaVet™ 10% CBD Formulation, a veterinarian pharmaceutical formulation of highly-purified, plant-derived cannabidiol (“CBD”). NettaVet™ 10% is the first CBD veterinary medicine to obtain a Federal registration as a pharmaceutical product globally.
A registered veterinary medicine is distinctly different from other products sold commercially which are typically food supplements or nutraceutical products that have not undergone stability, efficacy and/or other testing by a health agency for approval and registration. The rigorous DILAVE approval process includes testing standards which conform to domestic and international pharmaceutical requirements for registered pharmaceutical products. Production and commercial sales of NettaVet™ 10% can commence immediately. NettaLife is also in the process of obtaining approval and registration for additional formulations and has initiated clinical trials studying the efficacy of its proprietary NettaVet™ pet cannabinoid formulations for the treatment of various pathologies in animals. NettaVet™ CBD veterinary products have been under development since 2018 by the highly specialized NettaLife team.
“The approval of NettaVet™ 10% is a significant accomplishment for RAMM Pharma, offering veterinary patients the first federally approved CBD medicine to treat some of the most common animal ailments,” stated Jack Burnett, Chief Executive Officer.
NettaVet™ 10% CBD is produced by NettaLife, a wholly owned subsidiary of RAMM, dedicated to the production, export and commercialization of pet products, food, pharmaceutical and cosmetic products to improve animal health and wellness. More information can be found on NettaLife’s website www.nettalife.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/196783b5-6e3c-4129-aaa1-0aac853f315c
Animal CBD, Pet Food & Veterinary Market Information
The Pet CBD market is expected to be USD $1.7 billion by the end of 2025, driven by more research-based knowledge on CBD’s potential benefits, combined with ongoing product innovations from CBD companies. Extensive media coverage around CBD and marketing initiatives by pet CBD companies are boosting consumer awareness and demand for pet CBD products. Growth is being driven by pet owners looking for natural alternatives for pets’ medical ailments, especially anxiety, pain, or other serious conditions that have not responded well to other treatments (Brightfield Group, 2020).
The global veterinary medicine market size was estimated at USD $29.2 billion in 2020 and is expected to expand at a compound annual growth rate of 7.4% from 2021 to 2028 (Grand View Research).
The global pet food market size was valued at USD $87.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2019 to 2025 (Grand View Research).
About NettaVet™
The NettaVet™ team is developing a line of specialized CBD veterinary and medicinal products for animals. CBD has shown benefits in animals including pain and inflammation reduction, immune system improvement, skin and fur care and cognitive support. NettaVet™ products will offer a natural, holistic medical alternative for animal care and which we believe may produce therapeutic results for diagnosed conditions such as Idiopathic epilepsy, canine lymphoma and anxiety, without the negative side effects of traditional veterinary medications. CBD is renowned as a very well-tolerated medication and nutraceutical that doesn't produce harmful side effects. In addition, CBD-based products are believed not to damage the kidneys, liver or gastrointestinal system. This business line will synergistically leverage RAMM’s pharmaceutical expertise to continue to further the development of its products which will begin being rolled out in 2021.
About RAMM Pharma Corp.
Led by renowned cannabis industry experts and backed by successful pioneers in the cannabis sector, RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. Founded in 1988 in Montevideo, Uruguay, the Company is a well established pharmaceutical and medical product business that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products. The Company currently has multiple approved and registered products that have been authorized for sale in Uruguay and compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development produced in the Company’s state of the art Good Manufacturing Practice (GMP) certified cannabis formulation facility. Further to its industry leading activities in the cannabis sector, the Company operates a successful pharmaceutical, cosmetic and nutraceutical product development and medical services business which has been servicing the local market for 30 years.
RAMM Pharma Corp. includes wholly owned subsidiaries Medic Plast SA, Yurelan SA, Glediser SA and Ramm Pharma Holdings Corp.
Additional information about the Company is available at www.rammpharma.com.
For further information, please contact:
Guillermo Delmonte
Chief Operating Officer
+598 92 223 131
info@rammpharma.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, the size of the Pet CBD market, the Company’s strategies and objectives, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: efficacy of the Company’s new product offerings; the expected size of the Pet CBD market and general consumer demand; the expected timelines associated with the production, roll-out and availability of the Company’s new products; the ability to meet increased demand for the Company’s products, changes in prices of required commodities; the impact of COVID-19 on the Company’s workforce, suppliers, partners, customers, and other essential resources and what effect those impacts, if they occur, would have on the Company’s business and operations; future growth potential of the Company; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Uruguayan, Latin American, and international medical and recreational cannabis and CBD markets and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Uruguay or internationally; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
