MediPharm Labs has entered into a licencing agreement with Remidose Aerosols 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.
These advanced innovative products fall into two main categories:
1. 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.
2. 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.
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.
