Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • SUDA Pharmaceuticals has signed an exclusive development and supply deal with Cann Pharmaceuticals. The deal will see the development of an oral spray to treat epilepsy, melanoma and motion sickness, using medical grade cannabis
  • Cann Pharmaceutical will fully fund the project
  • SUDA’s oral sprays allow medicine to be absorbed up to 95 per cent into the blood stream, in comparison to 25 per cent via tablet

Pharmaceutical company SUDA has entered an exclusive development and supply license for an oral spray made with medical grade cannabis. The deal is with Cann Pharmaceutical, an Australian subsidiary of the Israel based Better Holdings group.

SUDA specialise in creating medicines which can be taken in the form of an oral spray. According to SUDA’s testing, ingesting medicine via an oral spray increases the amount absorbed into the blood stream to 95 per cent. This is in comparison to the 25 per cent which makes into the bloodstream when ingesting medicine in tablet form.

Cann Pharmaceuticals will fully fund the the project, which aims to develop an oral spray to treat drug resistant epilepsy, melanoma and motion sickness. The spray will be comprised of pharmaceutical-grade cannabinoid derivatives

All global regulations and required approvals for the oral spray will be the responsibility of Cann Pharmaceuticals.

The initial funding required to develop and formulation and commence testing is $184,400. A further $650,000 is set to be paid by Cann Pharmaceuticals following a series of achieved milestones. Cann Pharmaceuticals will receive a royalty fee of ten per cent of product net sales.

The CEO and Managing Director of SUDA, Stephen J Carter, said through working in the field of medical grade cannabis, SUDA believes its “technology can offer unique advantages” to “benefit patients seeking MGC therapy”.

SUD by the numbers
More From The Market Herald
Silex Systems (ASX:SLX) - Managing Director & CEO, Michael Goldsworthy

" Silex Systems (ASX:SLX) completes $7m capital raise

Technology researcher and developer Silex Systems (SLX) has completed a share purchase plan (SPP) to raise $7 million.
Biogene Technology (ASX:BGT) - CEO, Richard Jagger

" Bio-Gene Technology (ASX:BGT) executes option agreement with Clarke

Ag-tech company Bio-Gene Technology (BGT) has executed an option agreement with Clarke Mosquito Control.
BrainChip Holdings (ASX:BRN) -

" BrainChip (ASX:BRN) awarded two new US patents

BrainChip (BRN) has been awarded two new patents from the US Patents and Trademarks Office relating to its neuromorphic artificial intelligence chips.
YPB Group (ASX:YPB) - Executive Chairman, John Houston

" Shares in YPB Group (ASX:YPB) soar after e-cigarette contract

YPB Group (YPB) has seen its share price jump 50 per cent after securing a supply contract with electronic cigarette and vaporiser manufacturer