The terms of the agreement provide for both parties to negotiate various commercial terms involving potential global territories for NanaBis™.
NanaBis is a highly purified proprietary blend of cannabis molecules cannabidiol (CBD) and tetrahydrocannabinol (THC).
It is delivered into the body using Medlab’s patented sub-micron delivery platform NanoCelle™.
NanaBis is a buccal (side of cheek) spray currently in the second stage of an Australian advanced cancer pain trial.
Patients can access it under the government’s Special Access Scheme and it is currently before several regulatory agencies for potential fast track drug approval pathways.
Medlab’s CEO Dr Sean Hall said: “NanaBis™ is in an exciting stage of its development as the company looks to fast track global drug approval pathways.
“This Heads of Agreement signifies real intent and interest for a true global pharmaceutical company to enter legitimate science as it relates to cannabis that has been research focused into a serious condition: cancer pain.
He added: “being able to collaborate with global pharmaceutical companies like Mega allows MDC the opportunity to expand NanaBis™ quicker in global territories.”
Medlab has two cannabis-based medicines, NanaBis™ and NanaBidial™, which contain formulations of tetrahydrocannabinol (THC) and cannabidiol (CBD).
NanaBis™ has a 1:1 ratio of CBD:THC and NanaBidial™ has a 18:2 ratio of CBD:THC.
NanaBis™ is currently in clinical trial at Royal North Shore Hospital.
Notably, both medicines are available to Australian patients for compassionate use under the government Special Access Scheme (SAS).
Proactive caught up with Medlab earlier this month for an update.