The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc has announced two new agreements with PMI Mexico to supply CBD for the pharmaceutical company’s pharmacokinetic (PK) stage medical trials.
PMI Mexico, a subsidiary of Merger Group, is one of the main drug suppliers to the Mexican government, according to Valens. The company is currently looking at anti-inflammatory applications of medical-grade, nano-water emulsified CBD oil.
The company will be the exclusive supplier for PMI’s clinical trial, the company said. Valens expects its shipments of CBD to arrive in Mexico in the first quarter of 2022.
A second agreement sees Valens manufacture and distribute CBD-infused and not infused Predilife products globally, with PMI acting as the sole distributor in Mexico.
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Predilife is an agave-based prebiotic powder that has been submitted as a drug master file (DMF) to the US Food and Drug Administration (FDA).
Valens will manufacture the products at its Green Roads facility in Florida, where they will be infused with CBD as required and then packaged and distributed through its third-party supplier channels across Asia, the US, Latin America and Mexico.
The formulation will be offered in both powder and liquid sachets, initially for human consumption, with animal variations planned for the second half of 2022, according to the company.
"The relationship we have built with PMI Mexico marks an important milestone for Valens' international expansion and the beginning of our Central and Latin America strategy," said Tyler Robson, CEO of The Valens Company (TSX:VLNS, OTCQX:VLNCF).
Robson told investors that Predilife has “significant and unique” versatility in the product’s reach and market potential, given it can be consumed infused or not infused with CBD. The characteristic allows Valens to distribute Predilife regardless of local cannabis regulations, giving it access to international markets.
“This agreement diversifies our global strategy and increases our revenue streams through creative, non-traditional strategies that separate us from our peers,” Robson added.
Gustavo Bustillo PhD, Scientific Director of PMI said: "In Valens we found a technological partner that was capable of providing us not only the required quality but also the technical support and necessary documents needed to comply with pharmaceutical regulations. We look forward to initiating our commercial relationship and watching it expand globally over the coming years."
Kelowna, BC-based Valens is a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products.
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