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- Zelira Therapeutics (ZLD) has inked an agreement that will see Tasmanian Alkaloids manufacture Zelira products for the Asia Pacific region
- Specifically, TasAlk will hold the licences to supply Zelira’s Insomnia and HOPE medicinal cannabis formulations
- These licences will be exclusive for one year and semi-exclusive for the following three years
- Zelira expects the products to launch in Australia during the third quarter of 2020, making it a revenue-generating company in Australia as well as the U.S.
- The company’s share price has risen 6.7 per cent to 4.8 cents per share
Zelira Therapeutics (ZLD) has inked a commercial supply agreement with Tasmanian Alkaloids for Zelira’s HOPE and insomnia products.
Under the deal, TasAlk will hold the exclusive rights to manufacture the medicinal cannabis formulations in the Asia Pacific region for one year and semi-exclusive rights for a subsequent three years.
In Australia, patients will be able to access Zelira’s ZTL-101 insomnia formulation or HOPE products for symptoms associated with Autism Spectrum Disorder, via the TGA Special Access Scheme.
Zelira Managing Director Dr Richard Hopkins says the deal puts the company firmly on track to achieve its third-quarter launch target.
“We’re delighted to be partnering with TasAlk, one of the world’s leading manufacturers of pharmaceutical-grade plant-derived medicines. The agreement reaffirms our commitment to bring our clinically validated products to market in 2020,” Richard commented.
Additionally, once the products are launched in Australia and the Asia Pacific region, Zelira will be a revenue-generating company outside of the U.S.
Further, TasAlk CEO Dr Ross Murdoch indicated that the supply agreement has the potential to lead to further partnerships down the track.
“This agreement aligns with our business model and expertise in providing clinical trial materials. It provides the foundation for a long-term partnership that has the potential to open up supply opportunities in major world markets for Zelira’s products,” Dr Ross explained.
Zelira’s share price has risen 6.7 per cent to 4.8 cents per share at 11:36 am AEST.
