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Zelira Therapeutics (ASX:ZLD) - CEO and MD, Dr Oludare Odumosu
CEO and MD, Dr Oludare Odumosu
Source: Zelira Therapeutics
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  • Zelira Therapeutics (ZLD) expands into the New Zealand cannabinoid-based medicines market via a five year exclusive distribution agreement with NUBU Pharmaceuticals
  • The deal allows Zelira to market its Zenivol and Hope 1 products in New Zealand which is part of its global commercialisation strategy
  • NUBU will be filing for formal New Zealand government registration with the Ministry of Health in the country for both Zenivol and HOPE 1
  • Shares have ended the day up 3.03 per cent trading at 3.4 cents at market close

Zelira Therapeutics (ZLD) has expanded into the New Zealand cannabinoid-based medicines market.

Zelira will enter into an exclusive distribution agreement with NUBU Pharmaceuticals to allow Zelira to market its Zenivol and HOPE 1 products in New Zealand.

Zenivol is aimed at treating chronic insomnia while Hope 1 reportedly treats people who suffer symptoms of autism spectrum disorder.

The agreement will commence today, December 16, with a term of five years. The deal also includes the supply of finished dosages of Zenivol and HOPE 1 from Australia to New Zealand with NUBU to distribute products under the Zelira brand in New Zealand.

To retain exclusivity, NUBU is required to purchase annual minimum quantities of Zenivol and HOPE 1 totalling over $2.6 million over the five year term, with $178,000 to be paid in year one.

Zelira said New Zealand market entry furthers its global commercialisation strategy to grow the global footprint of its pharmaceutical portfolio.

Zelira Managing Director Dr Oludare Odumosu commented on the agreement.

“We are delighted to be partnering with NUBU, New Zealand’s largest medicinal cannabis distribution company, with existing strategic partnerships already in place with many of New Zealand’s largest pharmacy groups.”

NUBU will reportedly be filing for formal New Zealand government registration with the Ministry of Health in the country for both Zenivol and HOPE 1.

Shares were up 3.03 per cent trading at 3.4 cents at market close.

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