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Zelira Therapeutics (ASX:ZLD) - CEO & Managing Director, Dr Oludare Odumosu - The Market Herald
CEO & Managing Director, Dr Oludare Odumosu
Source: Chestnut Hill Local
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  • Medicinal cannabis company Zelira Therapeutics (ZLD) has teamed up with Alternative Solutions to sell its autism spectrum disorder product range in Washington, DC
  • Under the agreement, Alternative Solutions will manufacture and distribute Zelira's HOPE products — a range of cannabinoid formations developed to support patients with autism
  • In exchange, Zelira will receive an upfront fee and ongoing royalties from HOPE product sales in Washington, DC
  • Notably, DC has reciprocity with 32 other states in the U.S. with approved medicinal cannabis programs — meaning any patients in these states can legally purchase HOPE products in the district
  • On the market this morning, Zelira is up 26.3 per cent and is trading at 12.5 cents per share

Zelira Therapeutics (ZLD) has entered an exclusive licencing agreement with Alternative Solutions for its HOPE products in Washington, DC.

The HOPE products are cannabinoid formations and were developed to support patients with an autism spectrum disorder.

Under the agreement, Alternative Solutions will manufacture and distribute Zelira's HOPE products.

Alternative Solutions is a licenced grower, manufacturer and distributor of medical cannabis products in the District of Columbia.

In the terms of the agreement, Zelira will receive an upfront fee and ongoing royalties from HOPE product sales in Washington, DC.

Notably, DC has reciprocity with 32 other states in the U.S. with approved medicinal cannabis programs, expanding access to all patients in these states as they can legally purchase medical cannabis products at an approved pharmacy in Washington.

"We are particularly excited about this partnership because Washington, DC is a gateway state with over 24 million visitors passing through the U.S. capital in a year," Zelira CEO and Managing Director Dr Oludare Odumosu said.

"Washington, DC’s reciprocity is a strategic move that allows approved patients from 32 states to legally access HOPE in DC," he added.

Alternative Solutions CEO Matt Lawson-Baker is pleased to be partnering with Zelira.

"Providing access to this medicine in the nation’s capital will give many families and patients the treatment they deserve through a legal regulated medical cannabis program," he told the market on Monday.

On the market this morning, Zelira is up 26.3 per cent and is trading at 12.5 cents per share at 11:08 am AEDT.

ZLD by the numbers
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