By: IPP Bureau
Last updated : June 24, 2024 11:49 am
Transaction is non-dilutive, with 100% performance-based payment through a royalty model
MediPharm Labs Corp., a pharmaceutical company specialized in precision-based cannabinoids, is has entered into a licencing agreement with Remidose Aerosols (Remidose) to acquire the exclusive rights for advanced cannabis products.
The agreement allows for an immediate revenue opportunity as current Remidose customers will be serviced through MediPharm starting August 2024. These existing customers include Canadian direct-to-patient medical platforms and international medical distributors. MediPharm plans to use its existing GMP infrastructure, customer channels and wellness sales expertise to expand the customer base of these advanced products in Canada and globally.
MediPharm already has the requisite equipment and GMP facility allowing for these product lines to be manufactured in-house with no material incremental capital costs.
The agreement follows MediPharm's strategy of continued innovation in non-smokable, more dose-able cannabis-based products. This execution solidifies MediPharm's position as a global leader in the pharmaceutical and wellness-focused cannabis sectors. New growth opportunities include medical and GMP formats for our international customers as well as unique and advanced products for our current and future clinical research partners that are specifically looking for more dose-able, non-smokeable formats. Finally, the new format offers a new discreet delivery method for our many wellness-oriented cannabis consumers.
"MediPharm Labs is committed to providing access to non-smokeable, precision dosed formats for cannabis patients and wellness consumers. This Agreement, in addition to bringing immediate revenue, opens many new potential global medical opportunities. We thank the Remidose team for trusting MediPharm in taking their R&D and commercialization efforts to the next level, as we work together to bring these products to new markets." Commented David Pidduck, CEO of MediPharm Labs.
Michael Mayne, CEO, Remidose added "As a medical cannabis company committed to providing consumers access to the therapeutic benefits of cannabis in a smoke-free manner, we see this agreement as a key milestone in bringing our products to a global marketplace with a proven, trusted partner in MediPharm Labs."