Innocan Pharma Announces Promising Successful Results in Efficacy Trial of Diabetic Foot Relief Treatment

HERZLIYA, Israel and CALGARY, AB, Aug. 15, 2023 /PRNewswire/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the "Company" or "Innocan") a pharmaceutical technology company specializing in innovative wellness products, today unveiled the successful results of a controlled efficacy trial (the "Trial") of their diabetic foot relief cream (the "Product").

The Trial results affirm that Innocan's Product - a proprietary formulation of cannabinoids, vasoconstriction stimulators, and potent moisturizers - is highly effective in alleviating foot dryness and decreasing the risk of skin cracking, a precursor to bruising and subsequent diabetic complications in individuals with diabetes.

The seven-day Trial involved a diverse group of male and female volunteers living with diabetes and suffering from dry skin. The Trial's primary benchmark - a statistically significant reduction in foot dryness - was achieved through enhanced skin hydration and a notable decrease in epidermal water loss, with improvements visible within one hour, and sustained over the entire week-long Trial.

Furthermore, 97% of the Trial volunteers reported an immediate amelioration in foot skin dryness, 97% noted increased foot skin hydration, 90% observed their foot skin to be more elastic, and 97% would recommend the product to peers.

Through the application of cannabinoids and other natural ingredients, Innocan offers a viable, healthy alternative for diabetic patients aiming for immediate protection from skin dryness, crack formation, and the risk of subsequent complications.

The global diabetic foot ulcer treatment market was valued at USD 8.6 billion in 2021 and is projected to reach approximately USD 14.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.22% from 2022 to 2030^[1].

"I am delighted with the outcome of this efficacy trial and the positive influence our product had on the participants," stated Iris Bincovich, CEO of Innocan. "Our commitment lies in crafting safe and effective solutions that can significantly enhance the quality of life for those in need, and we take immense pride in achieving such encouraging results with our novel foot relief product."

Innocan also announces that it granted 5,118,576 stock options to officers, directors, employees and consultants to the Company. These options have a strike price of $0.23, with various vesting periods up to 24 months. All options expire on August 11, 2028.

About Innocan

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids 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 CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. (ii) CLX CBD-loaded exosomes platform that may hold the potential to provide a highly synergistic effect of regenerating and anti- inflammatory properties targeting the Central Nervous System (CNS). 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 online sales. https://innocanpharma.com.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company's products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedar.com.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

^1. https://www.precedenceresearch.com/diabetic-foot-ulcer-treatment-market

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For further information, please contact:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+15162104025
+972-54-3012842
+442037699377
info@innocanpharma.com

Dr. Eva Reuter
Investment Relation - Germany
+46-69-1532-5857
e.reuter@dr-reuter.eu