MediPharm Labs Acquires Advanced Medical Cannabis Delivery Method Technology from Remidose Aerosols
MediPharm Labs has secured global manufacturing, distribution, and sales rights for advanced medical cannabis delivery technologies from Remidose Aerosols. This includes metered dose inhalers and aerosol sublingual sprays. The transaction is non-dilutive and based on a performance-driven royalty model. Immediate revenue opportunities arise as MediPharm will take over Remidose's existing sales channels from August 2024, targeting Canadian direct-to-patient platforms and international distributors. MediPharm plans to utilize its GMP infrastructure to expand these products globally. The agreement aligns with MediPharm's strategy to innovate in non-smokable cannabis formats, enhancing its position in the pharmaceutical and wellness-focused sectors.
- Immediate revenue opportunity from existing Remidose sales starting August 2024.
- Non-dilutive transaction with performance-based payment through a royalty model.
- Leverages MediPharm's existing GMP infrastructure, minimizing incremental capital costs.
- Alignment with strategy to innovate in non-smokable, dose-able cannabis products.
- Potential expansion into international markets and increased customer base.
- None.
- MediPharm has licenced global manufacturing, distribution, and sales rights of the novel advanced medical cannabis technology from Remidose Aerosols.
- Products include metered dose inhalers and aerosol sublingual sprays.
- MediPharm will assume existing Remidose sales allowing for immediate revenue opportunity.
- Transaction is non-dilutive, with
100% performance-based payment through a royalty model.
The Agreement allows for an immediate revenue opportunity as current Remidose customers will be serviced through MediPharm starting August 2024. These existing customers include Canadian direct-to-patient medical platforms and international medical distributors. MediPharm plans to use its existing GMP infrastructure, customer channels and wellness sales expertise to expand the customer base of these advanced products in
These advanced innovative products fall into two main categories:
1. Metered Dose Inhalers: This metered dose inhaler is the same device used in the pharmaceutical industry. The inhalation format provides rapid onset without the adverse effects of smoking and combustible vape cartridges now being used by cannabis consumers and patients.
2. Pressurized Sublingual Sprays: A metered dose spray that gives users an accurate and repeatable experience. In contrast to commonly available manual pump sprays, this aerosol delivery method has faster onset, better bioavailability and a more pleasant taste and feel, as supported by user feedback.
MediPharm already has the requisite equipment and GMP facility allowing for these product lines to be manufactured in-house with no material incremental capital costs.
The Agreement follows MediPharm's strategy of continued innovation in non-smokable, more dose-able cannabis-based products. This execution solidifies MediPharm's position as a global leader in the pharmaceutical and wellness-focused cannabis sectors. New growth opportunities include medical and GMP formats for our international customers as well as unique and advanced products for our current and future clinical research partners that are specifically looking for more dose-able, non-smokeable formats. Finally, the new format offers a new discreet delivery method for our many wellness-oriented cannabis consumers.
Management Commentary:
"MediPharm Labs is committed to providing access to non-smokeable, precision dosed formats for cannabis patients and wellness consumers. This Agreement, in addition to bringing immediate revenue, opens many new potential global medical opportunities. We thank the Remidose team for trusting MediPharm in taking their R&D and commercialization efforts to the next level, as we work together to bring these products to new markets." Commented David Pidduck, CEO of MediPharm Labs.
Michael Mayne CEO of Remidose added "As a medical cannabis company committed to providing consumers access to the therapeutic benefits of cannabis in a smoke-free manner, we see this agreement as a key milestone in bringing our products to a global marketplace with a proven, trusted partner in MediPharm Labs."
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.
In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in
In 2023, MediPharm acquired VIVO Cannabis Inc. which expanded MediPharm's reach to medical patients in
The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.
Website: www.medipharmlabs.com
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, MediPharm's access to and unique position in the international medical markets, Remidose project capital expenses, future revenue growth in
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SOURCE MediPharm Labs Corp.
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