viewZelira Therapeutics Ltd

Zelira Therapeutics will expand HOPE® distribution to US state of Louisiana

The HOPE® product will be available in Louisiana, a state of around five million residents, from the first quarter of 2020.

Zelira Therapeutics Ltd - Zelira Therapeutics expands HOPE® distribution in the US
The HOPE® product line is specifically designed for patients with Autism Spectrum Disorder

Zelira Therapeutics Ltd (ASX:ZLD) will bring its HOPE® Franchise to the US state of Louisiana with a licensing agreement that will generate immediate revenue through an up-front fee and ongoing royalties.

HOPE® was launched in Pennsylvania in May 2019 and has shown strong revenue growth after establishing itself as the top-selling medicinal cannabis product line in Pennsylvania.

The pharmaceutical-grade product line HOPE®  was developed to specifically address patient symptoms associated with Autism Spectrum Disorder.

Louisiana launch

Zelira Therapeutics Ltd, the newly formed merged company aligning Zelda Therapeutics Ltd, an Australian-based bio-pharmaceutical company, and Ilera Therapeutics LLC, a privately held medicinal cannabis and cannabinoid science company based in Pennsylvania, expects to launch its global strategy to Louisiana by the first quarter of 2020.

The HOPE® formulated proprietary medicinal cannabis product line, which was developed by the Ilera Therapeutics team, has received support from organisations such as HOPE Grows for Autism, a leading autism advocacy group based in Pennsylvania.

Zelira's chairman Osagie Imasogie said: "Our objective is to deliver high-quality, clinically validated products and options to patients and physicians.

“We are thrilled to bring this medicine to Louisiana and its approximately 5 million residents, allowing a broader reach for patient accessibility.

“Additionally, we are engaging the US and international operators to extend the benefits of HOPE® to an even greater patient population while we continue to obtain data and gain additional understanding of the impact of medicinal cannabis on these patients.”

Zelira is licensing HOPE® to Louisiana-based Advance Biomedics LLC so that it can bring HOPE® products to patients throughout the state.

The company will have direct access to the US with over 4-million registered patients as well as Australia, Germany and the United Kingdom.

Strategic partnerships

This merger brings a long-term supply and distribution relationships with pharmaceutical-grade manufacturers in Europe and the US ensuring access to commercial-scale quantities of pharmaceutical-grade medicinal cannabis to supply large and growing patient populations.

Deputy chairman Harry Karelis said: “This team has world-class expertise in clinical trial design, drug development, cannabinoid science research and product launch, distribution and management.

"With HOPE® in the US and global markets, we now have the accessibility to address more patient needs and the ability to distribute the HOPE® portfolio through licensing agreements within the US and globally, with expected revenues in the first half of 2020."

Zelira has formed a strategic partnership with European medicinal cannabis group HAPA Pharm BV to access HAPA Pharm’s EU-GMP grade manufacturing capabilities.

The company’s other proprietary product, CAN-001 is being developed for the treatment of chemotherapy-induced nausea and vomiting (CINV), which occurs in approximately 80% of the new 23.6 million cases of cancer annually worldwide.

Quick facts: Zelira Therapeutics Ltd

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Market: ASX
Market Cap: $117.35 m

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