Avicanna Inc (TSX:AVCN, OTCQX:AVCNF) has announced the extension of its existing strategic manufacturing agreement with MediPharm Labs (TSX-V:LABS) Inc for the commercialization of Avicanna’s proprietary cannabinoid-based Self-Emulsifying Drug Delivery Systems (SEDDS) technology capsules for the Canadian and international markets.
The biopharmaceutical company said under the expanded agreement, Avicanna intends to commercialize its proprietary SEDDS technology capsules, under the RHO Phyto brand, across domestic nation-wide medical channels including Avicanna’s MyMedi.ca online cannabis care platform and MediPharm’s Canna farms platform.
“We are happy to be advancing our proprietary SEDDS technology capsules to the market with MediPharm, who have demonstrated focus, alignment and the necessary capabilities to manufacture and deliver these products across a number of markets and channels,” Avicanna CEO Aras Azadian said in a statement.
“We are excited about the potential of our proprietary single-dose formulations in both medical and pharmaceutical cannabinoid segments,” he added.
Avicanna also noted that MediPharm intends to commercialize the capsules across adult-use wellness channels under its MediPharm Labs (TSX-V:LABS) brand.
It added that each of Avicanna and MediPharm may take steps towards offering these products internationally through existing internal infrastructure and externally with parties under contract.
SEDDS technology capsules are designed for enhanced and rapid absorption of cannabinoids, while demonstrating shelf-life stability with more than 90% of the total cannabinoid(s) remaining after six months in accelerated conditions, according to the company.
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments.
The company has an established scientific platform including R&D and clinical development that has led to the commercialization of more than 30 products across various market segments.
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