Lipidor (Nasdaq First North: LIPI) and Cannassure (TASE:CSURE) enter a feasibility study and licence option agreement for development and sales of topical medical cannabis products
Subject to a successful feasibility study, Cannassure has an option to enter an exclusive global license for the use of Lipidor’s Technology. Cannassure will implement the technology for the development and commercialization of sprayable medical cannabis products based on AKVANO.
The joint ambition is to introduce innovative products for topical treatments on the fast-growing global market for medical cannabis. According to an IMARC Group report, the global market for medical cannabis is expected to reach 44 Bn USD in 2024.
“We are impressed by Cannassure’s high standards and progressive approach to business development in the medical cannabis field. For Lipidor the agreement with Cannassure has a significant commercial potential and we will, based on the outcome of the feasibility study, come back with more details on the size of this great opportunity,” says Ola Holmlund, CEO of Lipidor.
“Cannassure considers the engagement with Lipidor a meaningful milestone and in line with the company’s mid-term strategy – development and commercialisation of innovative medical cannabis products based on established drug delivery systems and formulations for enhanced therapeutic value. We found in Lipidor a professional and dependable partner and we look forward for a fruitful collaboration. Formulation work will take place in Israel at Cannassure’s state of the art facilities with on-site support from Lipidor’s formulation experts. The feasibility study is expected to conclude in Q3 2020,” says Ran Amir, Cannassure’s CEO.
“We already have pre-clinical evidence that cannabinoids can be successfully incorporated with AKVANO. Therefore, we have high hopes of a successful feasibility study and continued pre-clinical and clinical studies together with Cannassure,” says Jan Holmbäck, Lipidor´s CSO.
Dr. Hadile Ounallah Saad, VP R&D Cannassure adds:
“Scientific data clearly demonstrates that cannabinoid signalling has an impact on the maintenance of skin homeostasis, barrier formation and regeneration in both health and disease. It is therefore likely that developing a topical cannabis product based on the unique AKVANO technology will be helpful for related unmet clinical needs.”
Information
This information above was provided by Lipidor according to EU Market Abuse Regulations. The information was provided, through the below contact person, for publication on 10 December 2019 at 07.45 am (CET).
