MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) entered into a licensing agreement with Remidose Aerosols to buy exclusive rights for advanced cannabis products including inhalers and sublingual sprays.
MediPharm said the deal is an immediate revenue opportunity as current Remidose customers will be serviced through MediPharm starting in August.
“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,” the company said in a statement.
“MediPharm Labs is committed to providing access to nonsmokable, precision-dosed formats for cannabis patients and wellness consumers. This agreement, in addition to bringing immediate revenue, opens many new potential global medical opportunities,” MediPharm CEO David Pidduck said.
The products that MediPharm licensed, according to the statement, include:
Metered-dose inhalers: This metered-dose inhaler is the same device used in the pharmaceutical industry. The inhalation format provides rapid onset without the adverse effects of smoking and combustible vape cartridges now being used by cannabis consumers and patients.
Pressurized sublingual sprays: a metered-dose spray that gives users an accurate and repeatable experience. In contrast to commonly available manual pump sprays, this aerosol delivery method has faster onset, better bioavailability, and a more pleasant taste and feel, as supported by user feedback.
Remidose CEO Michael Mayne 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.”
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