Israeli-Canadian technology company StickIt Technologies Inc. (CSE:STKT) announced plans to develop a medical straw designed to deliver vitamins and medications to children and adults who struggle with swallowing pills or maintaining regular dosages.
The company said it aims to begin research on the innovation in 2025, contingent on completing a fundraising effort.
The medical straw, equipped with a cartridge, builds on StickIt’s existing technology for cannabinoid delivery.
StickIt’s new product will focus on administering essential vitamins and medications in a child-friendly and accessible format. The company said it has filed patents for its straw-plus-cartridge system and plans to refine the technology for this broader pharmaceutical application.
StickIt plans to raise C$1.5 million during the first two quarters of 2025 to support the project. The funds will be used to establish a new subsidiary, StickIt Pharma Ltd., which will be jointly owned by StickIt and the new investors.
CEO Eli Ben Haroosh called the move a “significant breakthrough” for the company.
"We are looking for every opportunity to develop our technology and lead the global market,” Ben Haroosh said in a statement.
“I believe that if we will raise the necessary fund and also succeed in raising partnerships with generic pharmaceutical companies, making Stickit a pharma leader very soon."
StickIt plans to collaborate with generic pharmaceutical firms worldwide to support research efforts and FDA approval submissions.