Aphria partners with Rapid Dose Therapeutics to develop dissolving oral cannabis strips

The Canadian company is looking to acquire the rights to the new cannabis delivery method

Scientist with a marijuana plant
Rapid Dose Therapeutics' QuickStrip technology delivers cannabis into a fast-dissolving oral strip

There’s no one way to use cannabis. Consumers can pick a variety of methods from smoking to pill form to edibles.

Aphria Inc (TSX:APH, OTCQB:APHQF) has entered into a non-binding agreement with biotech Rapid Dose Therapeutics Inc for the rights to its QuickStrip products, a new delivery method for cannabis.

The QuickStrip technology incorporates cannabis into a fast-dissolving oral strip.

READ: Aphria partners with Schroll Flowers subsidiary to produce organic medical cannabis

"Partnering with Aphria is a natural fit for RDT as we bring our patent-pending proprietary technology to the medical and adult-use cannabis markets. Oral thin film strips are embraced by consumers everywhere as a safe and effective delivery device for low dose, high impact drug, vitamin, and personal use products, including cannabis,” said Rapid Dose Therapeutics CEO Mark Upsdell.

Aphria announced Tuesday that it was teaming up with Schroll Medical to cultivate organic medical cannabis.

Shares of the Ontario-based cannabis company jumped nearly 4% to US$14.62 in Wednesday afternoon trading.

Quick facts: Aphria

Price: 16.42 CAD

Market: TSX
Market Cap: $5.2 billion

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