TORONTO, April 20, 2021 (GLOBE NEWSWIRE) – RAMM Pharma Corp.Companies“or”RAMM “) (CSE: RAMM) (OTC: RAMMF), a leader in herbal cannabinoid medicines, is pleased to announce that the Uruguayan Ministry of Agriculture, Livestock and Fisheries (MGAP) through its Veterinary Laboratory Division (DILAVE) has approved and registered NettaVet ™ 10% CBD Formulation, a veterinary medicinal product has a formulation of highly pure, plant-based cannabidiol (“CBD”). NettaVet ™ 10% is the first CBD veterinary drug to receive federal drug registration worldwide.
A registered veterinary medicinal product is very different from other commercially available products, which are typically dietary supplements or nutraceuticals that have not been tested for stability, efficacy and / or other testing by a health authority for approval and registration. The strict DILAVE approval process includes test standards that meet the national and international pharmaceutical requirements for registered pharmaceutical products. The production and commercial sale of NettaVet ™ 10% can begin immediately. NettaLife is also in the process of obtaining approval and registration for additional formulations, and has initiated clinical studies to evaluate the effectiveness of its proprietary NettaVet ™ canabinoid formulations for pets in the treatment of various pathologies in animals. NettaVet ™ CBD veterinary products have been developed by the highly specialized NettaLife team since 2018.
“The approval of NettaVet ™ 10% is a significant achievement for RAMM Pharma and offers veterinarians the first federally approved CBD drug for the treatment of some of the most common animal diseases,” said Jack Burnett, chief executive officer.
NettaVet ™ 10% CBD is manufactured by NettaLife, a wholly-owned subsidiary of RAMM, which is dedicated to the manufacture, export and marketing of pet, food, pharmaceutical and cosmetic products for the improvement of animal health and wellbeing. For more information, please visit the NettaLife 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, and Veterinary Medicine Market Information
The pet CBD market is projected to be worth $ 1.7 billion by the end of 2025, based on more research-based knowledge of the potential benefits of CBD coupled with ongoing product innovations from CBD companies. Extensive media coverage of CBD and marketing initiatives from CBD companies for pets are increasing consumer awareness and demand for CBD products for pets. The growth is being driven by pet owners looking for natural alternatives for pet medical ailments, particularly for anxiety, pain, or other serious medical conditions that have not responded well to other treatments (Brightfield Group, 2020).
The global veterinary medicine market size was estimated at $ 29.2 billion in 2020 and is expected to grow at an average annual growth rate of 7.4% from 2021 to 2028 (Grand View Research).
The global pet food market size was estimated at $ 87.1 billion in 2019 and is expected to grow at an average annual growth rate (CAGR) of 4.5% from 2019 to 2025 (Grand View Research).
About NettaVet ™
The NettaVet ™ team develops a range of specialized CBD veterinary and medicinal products for animals. CBD has shown benefits in animals, including pain and inflammation reduction, immune system enhancement, skin and coat care, and cognitive support. NettaVet ™ products offer a natural, holistic medical alternative to pet care that we believe can provide therapeutic results for diagnosed conditions such as idiopathic epilepsy, canine lymphoma and anxiety without the negative side effects of traditional veterinary drugs. CBD is known to be a very well tolerated drug and nutraceutical that does not cause harmful side effects. In addition, it is believed that CBD-based products will not harm the kidneys, liver, or gastrointestinal system. This business area will use RAMM’s pharmaceutical know-how synergistically to further advance the development of its products, which are to be launched from 2021.
About RAMM Pharma Corp.
RAMM is led by renowned experts in the cannabis industry and supported by successful pioneers in the cannabis sector. RAMM is a leader in cannabinoid pharmacology and product formulation for cannabis-based medicines and other cannabis-based products. Founded in Montevideo, Uruguay in 1988, the company is an established pharmaceutical and medical products company that has developed medically registered and approved herbal cannabinoid medicines. The company currently has several approved and registered products that have been approved for sale in Uruguay and for compassionate use in several Latin American countries, as well as a pipeline of new products in various stages of approval and development made in the company’s state-of-the-art GMP facility -Certified cannabis formulation facility (Manufacturing Practice). In addition to its industry-leading activities in the cannabis sector, the company has a successful pharmaceutical, cosmetic, nutraceutical and medical services business that has served 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.
Further information about the company can be found at www.rammpharma.com.
For more information please contact:
+598 92 223 131
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements“) within the meaning of applicable Canadian securities legislation. All statements, other than historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. All statements that contain discussions regarding predictions, expectations, beliefs, plans, Forecasts, goals, assumptions, future events or performance (often but not always with expressions such as “expected” or “not expected”, “expected”, “anticipated” or) “does not expect”, “plans”, “budgeted”, “Planned,” “forecast,” “estimates,” “believes,” or “intends” or varies such words and phrases or indicates that certain actions, events or outcomes “may” or “might”, “would”, “could” “or” is assumed to occur or to be achieved) are not historical facts and may be forward-looking statements. In this press release, forward-looking statements refer to below Among other things, the size of the Pet CBD market, any comp strategies and goals, and future expansion plans.
These forward-looking statements are based on reasonable assumptions and estimates made by the company’s management at the time such statements are made. Actual future results could differ materially because forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the company’s actual results, performance, or achievements to differ materially from future results, performance or achievements derived from them Expressions or implications are forward-looking statements. These factors include, but are not limited to: the effectiveness of the company’s new product offerings; the expected size of the pet CBD market and general consumer demand; the expected deadlines related to the production, launch and availability of the company’s new products; the ability to meet the increased demand for the company’s products, changes in the price of the goods required; the impact of COVID-19 on the workforce, suppliers, partners, customers and other key resources of the company and what impact those effects would have on the business and operations of the company if they did occur; future growth potential of the company; Fluctuations in general macroeconomic conditions; Fluctuations in the securities markets; Expectations regarding the size of the Uruguayan, Latin American and international markets for medicinal and recreational cannabis and CBD and changes in consumer habits; the company’s ability to successfully achieve its business objectives; Expansion plans; political and social insecurities; Inability to obtain adequate insurance to cover risks and hazards; and the existence of laws and regulations that may restrict the cultivation, production, distribution and sale of cannabis and cannabis products in Uruguay or internationally; and employee relationships. Although the forward-looking statements contained in this press release are based on the assumptions of the company’s management or are based on reasonable assumptions at the time, the company cannot assure shareholders that actual results will correspond to any such forward-looking statements. as there may be other factors that cause results not to be as expected, estimated or intended. Readers are cautioned not to place undue reliance on the forward-looking statements and information contained in this press release. The company assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors if they change, unless required by law.
No stock exchange, securities commission or other regulatory authority has approved or rejected the information contained herein.