A cannabis cultivation company in Western Australia has partnered with an expert in drug delivery technology to develop both pharmaceutical and consumer products.
Cannaponics, a licensed medicinal cannabis cultivation, manufacturing and research company announced a licensing partnership with New Age Nanotech, the provider of Solutech, the leading clinically-backed drug delivery technology for cannabinoids, according to a press release.
Product development is central to the agreement and will include medicines, clinical trial products, food supplements, nutraceuticals, cosmeceuticals and oral solutions. Products slated for future development might include ready-to-drink beverages and liquid shots containing cannabis-derived THC and/or CBD. According to the release, Cannaponics has exclusive rights for Australia and non-exclusive rights for certain countries in South East Asia, Israel, Brazil and Europe.
"We are excited to enter into this partnership together with Cannaponics, who shares our strategic vision to provide unique, high quality, clinical evidence-based cannabis products to patients and their potential future adult-use consumers," Rod Zakostelsky, founder and managing director of Cannaponics, said in a company press release.
Cannaponics is responsible for the financing, development and commercialization of cannabis products and maintains the right to manufacture licensed products in Australia. Under the terms of the agreement, Cannaponics will maintain the license in Australia based on established commercial metrics.
Cannaponics’ partnership with New Age Nanotech comes at a time when the expert in oral delivery technologies is offering Solutech, a water-soluble patented cannabinoid delivery platform with advantages in shelf-stability, taste, absorptions and dosing.
New Age Nanotech is an industry leader in the development and commercialization of superior, clinically-proven downstream product solutions for the cannabis industry. Its flagship, Solutech, is a water-soluble patented cannabinoid delivery platform, enabling the turn-key creation of beverages, edibles, topicals, etc., with distinct advantages in shelf-stability, clarity, taste, absorption and dosing.