logo-loader
Zelda Therapeutics Ltd

Zelda Therapeutics investing in medicinal cannabis oral spray

A deal has been done with SUDA, a global leader in oro-mucosal drug delivery.

man and woman looking through microscopes in a lab
Drugs delivery is through the mucosal membranes lining the floor of the mouth

Zelda Therapeutics Ltd (ASX:ZLD) has entered an agreement with SUDA Pharmaceuticals Ltd (ASX:SUD) to develop a medicinal cannabis oral spray.

Under the feasibility and option agreement, SUDA will optimise its OroMist® oro-mucosal spray technology to deliver Zelda’s pharmaceutical-grade cannabis formulations across a 12-month work plan.

If successful, a 24-month option gives Zelda the right to negotiate an exclusive license over SUDA’s OroMist® technology for defined indications.

READ: Zelda Therapeutics partners with St Vincent’s Hospital for opioid reduction study

Zelda’s managing director Dr Richard Hopkins said: “Our aim is to improve upon existing market-approved oral-mucosal formulations that have proven very effective for delivering cannabis medicines in patients.

“This agreement provides Zelda with an option to license a proprietary technology for oral-mucosal delivery of medicinal cannabis. Having access to proprietary technologies strengthens our competitive position and helps accelerate our path to commercialisation.”

SUDA ’s managing director Stephen Carter added: “We are delighted to be working with Zelda on this project. We believe our technology can offer unique advantages compared to other routes of administration for delivering medicinal cannabis.”

Zelda will pay $300,000 up front to SUDA

Zelda will pay SUDA an option fee of $200,000 consisting of an upfront payment of $100,000 and a further $100,000 in downstream milestone payments.

The company will also fund SUDA's pre-agreed project expenditure.

Clinical trials are still at the centre of Zelda's operations

Quick facts: Zelda Therapeutics Ltd

Price: $0.07

Market: ASX
Market Cap: $50.74 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zelda Therapeutics Ltd named herein, including the promotion by the Company of Zelda Therapeutics Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Ilera Healthcare deal is 'one piece of the puzzle' for Zelda Therapeutics in...

Zelda Therapeutics Ltd (ASX:ZLD, OTCBB:ZLDAF) managing director Dr Richard Hopkins speaks to Proactive Investors about the medical cannabis researcher's binding heads of agreement (HoA) with US-based medicinal cannabis company Ilera Healthcare LLC. The deal complements a number of...

on 03/12/2019

2 min read