Zelda Therapeutics (ASX ZLD; OTCQB; ZLDAF) has announced an agreement with US-based medicinal cannabis company Ilera Healthcare.
Under the binding agreement, Zelda and Ilera will collaborate on development of medicinal cannabis product supported by clinical research, licensing of these products, and data-sharing and generation of joint intellectual property.
Medicinal cannabis is not yet federally legal in the United States, which makes import of products difficult. It is also challenging to move products across state lines.
However, Ilera has an expanding footprint in various states, and this agreement allows for Zelda to access these markets.
Ilera is vertically integrated medicinal cannabis company, with operations that cover cultivation, processing and dispensing of products.
Managing Director of Zelda, Dr Richard Hopkins said, “As a vertically integrated company, Ilera’s strengths in cultivation, extraction/formulation and distribution are complemented by Zelda’s expertise in clinical validation, product differentiation and downstream value-adding.
“When considered alongside our recent manufacturing and distribution agreement with HAPA in Germany, our partnerships provide access to over 110,000 registered medicinal cannabis patients globally, which is approximately 30 times larger that the current Australian market.”
The agreement contains no commercial terms, rather but is a commitment to negotiate for specific opportunities in the future covered under the agreement.