04:31 PM EST, 12/12/2024 (MT Newswires) -- InnoCan Pharma ( INNPF ) after close Thursday released its annual research and development recap for 2024, listing significant milestones in advancing research and development for its drug delivery platforms as well as its intellectual property portfolio.

During 2024, Innocan said R&D highlights included preclinical studies of its liposome-cannabidiol technology (LPT-CBD) demonstrated high CBD bioavailability, along with long-lasting pain relief and improved well-being in various animal models; and secured an agreement from the United States Food and Drug Administration (FDA) on the preclinical and Phase 1 clinical development plan to advance LPT-CBD as a treatment for chronic pain in humans.

Additionally, the FDA acknowledged LPT-CBD's development under the regulatory pathway, which provides Innocan with an accelerated route to patent utilization and commercialization.

"In 2024, we not only met but surpassed our FDA-related goals, achieving regulatory milestones ahead of schedule," said chief executive Iris Bincovich. "With the FDA 505(b)(2) regulatory pathway meeting behind us, these advancements position us to accelerate our development in 2025."