CV Sciences, Inc. announced that recently the Company received its formal Certificate of Grant from the Japan Patent Office (JPO) for its patent application 7216697. The patent covers methods of treating smokeless tobacco addiction by administering pharmaceutical formulations containing CBD and nicotine. CV Sciences has also filed corresponding patent applications that provide similar patent protection in additional key markets, with patents already granted in the United States, Canada, Australia, Germany, Great Britain, France, Spain, Netherlands, and Italy.

The global market size for smoking cessation and nicotine de-addiction products was valued at $20 billion in 2021 with projections upwards of $54 billion by 2031. Such potential for growth opens a promising long-term value creation for CV Sciences, in addition to the Company's robust consumer product segment. CV Sciences' initial drug candidate (CVSI-007) contains nicotine and CBD to support the cessation of smokeless tobacco use and addiction.

With JPO's formal grant of the patent, the Company will further development efforts and continue to seek approval from the U.S. Food and Drug Administration (FDA) to commercialize the world's first and only FDA-approved treatment for smokeless tobacco addiction. The Company is seeking strategic opportunities to advance the development of this program.