Health and wellness company Callitas Health Inc (CSE:LILY, OTCQB:MPHMF, OTCMKTS: MPHMF) announced Friday that it had signed a consulting agreement with BFS Innovations and Pure Leaf Group to launch the Cincinnati-based company’s unique cannabis delivery technology globally.
Callitas has developed a novel delivery technology that helps achieve more precise dosing — a tricky undertaking when it comes to medical cannabis.
The company has come up with oral strips that dissolve instantly on the tongue to deliver tetrahydrocannabinol (THC) and cannabidiols (CBD), a medical component of cannabis that doesn’t get users high.
The CannaStrips have patent-pending status from the US Patent Office. Callitas plans to license the technology to manufacturers and distributors.
"This partnership allows Callitas to expand its reach and engage more groups locally and internationally," said Callitas Health CEO James Thompson. "Our CannaStrip technology is amazing, and as we continue to expand our IP portfolio of cannabis tech, Callitas will be able to leverage BFS Innovations and Pure Leaf Group's experience to grow sales."
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In May, Callitas said it had contracted with a “confidential OTC pharmaceutical development and custom packaging company” to contract manufacture and package CannaStrips for worldwide distribution.
Callitas is now in discussions with Canadian companies to get CannaStrips into the Canadian market.
“By paying a license fee companies will be able to buy the strips from us as blanks at wholesale,” said Thompson.
Pure Leaf Group president Scott Allen said BFS Innovations and Pure Leaf Group were “excited” to be partnering with Callitas as it brought its “proprietary actives delivery system and tightly controllable dosing technology to this rapidly growing market."
"CannaStrip's proprietary actives delivery system and tightly controllable sublingual dosing technology are key differentiators for companies who are seeking a competitive edge in the rapidly emerging cannabis marketplace," said Allen.
“We have a unique delivery technology that helps to get a fixed, metered dosage to an individual or patient,” said Thompson.
Callitas earlier signed partnership agreements with two undisclosed California companies to market and sell CannaStrips for THC and cannabidiols.
"Our proprietary business model for manufacturing and distribution is novel and efficient. By partnering with BFS Innovations and Pure Leaf Group, we are accelerating our speed-to-market on a state-by-state level, which is very exciting," said Joshua Maurice, director of Sales and Marketing at Callitas.
Callitas is a well-diversified health and wellness company with a large portfolio. It is developing remedies across five silos: OTC sexual health & wellness, prescriptions for female sexual health, weight management, cannabis delivery technologies and orphan drugs.
Contact Uttara Choudhury at [email protected]