- Creso Pharma’s (CPH) subsidiary Halucenex Life Sciences will work with a Canadian university to develop a capsule drug delivery containing cannabidiol (CBD) or psilocybin
- Halucenex has signed a Research Collaboration Agreement with Acadia University to develop a product based on nanoemulsion technology
- CPH says the tech is known for its quick release effect, good bioavailability and rapid onset, with the collaboration to be completed in 2022
- It adds these product development initiatives are intended to strengthen its intellectual property (IP) and provide an advantage in the growing US market
- Shares in CPH are trading in the grey at 12 cents each at 1:44 pm AEST
Creso Pharma’s (CPH) subsidiary will soon team-up with a Canadian university to develop a capsule drug delivery containing CBD or psilocybin.
The cannabis company revealed on Monday that Halucenex had signed a Research Collaboration Agreement with Acadia University.
Halucenex Life Sciences is focused on developing novel psychedelic compounds, while Acadia boasts state of the art research centres nearby to the company’s existing operations in Nova Scotia.
Under the agreement, Halucenex and the university will develop a product based on nanoemulsion technology — which is known for its quick release effect, good bioavailability and rapid onset.
Ultimately the two parties hope to develop drug delivery vehicles containing CBD and psilocybin, with work to be carried out in two stages, beginning next year.
Creso and Halucenex will supply the CBD and psilocybin, while a research associate will be hired from Acadia to work on the development full-time.
Halucenex Founder and CEO Bill Fleming said it was an honour to be teaming up with such a prestigious university.
“We are excited to have entered into this collaboration with Acadia. The group is a highly esteemed organisation with a strong background in the field of research,” Mr Fleming said.
“This is an important step for the company, as it will give us much greater insight into the drug development process.”
Meanwhile Creso Non-Executive Chairman Adam Blumenthal said the agreement was a great growth opportunity for the business, as it targeted the North American markets.
“We anticipate that this initiative will provide benefits across the Creso Pharma group of companies,” Mr Blumenthal said.
“Both CBD and psilocybin are gaining strong traction with consumers and to take the first step in developing a standardised dosage […] will position Creso Pharma well within these industries.”
Shares in CPH were trading in the grey at 12 cents each at 1:44 pm AEST.