Ms. Iris Bincovich reports

INNOCAN PHARMA SUBMITS INVESTIGATIONAL NEW ANIMAL DRUG APPLICATION TO FDA'S VETERINARY CENTER

The Food and Drug Administration's Center for Veterinary Medicine (CVM) has granted Innocan Pharma Corp. a sponsor fee waiver and assigned an investigational new animal drug (INAD) number for its LPT-CBD (liposome platform technology-cannabidiol) product. This represents a significant step for the company, as an INAD designation facilitates correspondence and data exchange with CVM to support LPT-CBD development as a new veterinary drug.

The company further announced that following the assessment of LPT-CBD's scientific package, the CVM recognized Innocan's contribution to pursuing innovative animal drug products and technology and granted the company a sponsor fee waiver for fiscal year 2024.

Innocan's LPT-CBD is a proprietary drug delivery platform designed to provide prolonged-release CBD for chronic pain and well-being management in animals. Over the past year, repeated administration of LPT-CBD in dogs and other animals has demonstrated both efficacy and tolerability, providing sufficient evidence for the INAD application.

"We are thrilled by CVM's response," said Prof. Chezy Barenholz, chief scientific officer of Innocan Pharma. "The granted INAD will allow us to advance the investigational studies of LPT-CBD and share knowledge to support future discussions with CVM on LPT-CBD's development plan. Moreover, the fee waiver, granted by CVM, supports our development and pursuit of innovative animal drug products and technology, further validating our approach and potential impact in veterinary medicine."

Dr. Eyal Kalo, research and development director at Innocan, added: "LPT-CBD is a unique technology that has proven itself worthy of the INAD fee waiver granted by CVM. This will streamline our efforts to deliver a unique solution for chronic pain management to the animal market."

About Innocan Pharma Corp.

Innocan is a pharmaceutical technology company that operates under two main segments: pharmaceuticals and consumer wellness. In the pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies composed of cannabinoid science to treat various conditions to improve patients' quality of life. This segment involves two drug delivery technologies: (i) LPT-CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of cannabidiol into the bloodstream. The LPT delivery platform research is in the preclinical trial phase for two indications: epilepsy and pain management. In the consumer wellness segment, Innocan develops and markets a wide portfolio of innovative and high performance self-care products to promote a healthier lifestyle. Under this segment, Innocan has established a joint venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted on-line sales.

We seek Safe Harbor.