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clock Created with Sketch. 06/12/20
18:17
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Originally posted by kippax:
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Hi AllIn the release dated 6 December 2018 , Zelda announced that it has entered into a feasibility and option agreement with SUDA for the delivery of Zeldas pharmaceutical-grade cannabis medicines through SUDAs proprietary technology of oral muscular spray. As per the terms of agreement, Zelda will pay an option fee of $200,000 to SUDA that includes an upfront payment of $100,000. Whereas, remaining $100,000 will be paid in downstream milestone payments. Zelda will also fund the pre-agreed project expenditure. Initially, they have inked a 12-month workplan under which SUDA Pharmaceuticals will apply its proprietary OroMist® oromucosal spray technology to deliver Zeldas cannabis medicines in patients. The agreement also involves a 24 month option which equips Zelda with exclusive rights to extend the contract. Further the options also provides Zelda to enter into exclusive global licensing agreement under which SUDA will develop medicinal cannabis formulations into its proprietary oral-mucosal technology, exclusively for Zelda. Zelda Therapeutics Managing Director Dr Richard Hopkins said the target of Zelda Therapeutics Limited is to enhance the oral-mucosal formulation that has been approved by the market and is widely accepted for its effective delivery of cannabis medicines in patients. Dr. Hopkins added that with an option to obtain exclusive rights, Zelda sits on the competitive position in the market because if exercised, Zelda will have exclusive access to SUDAs proprietary OroMist® oromucosal spray technology. SUDAs Managing Director Mr. Stephen Carter stated that SUDA believes its technology can accelerate the business of Zelda, offering unique advantages to the delivery of medicinal cannabis.
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Positive sign the Suda lab technician liking all the Zelira posts? Or clutching at straws?! Interestingly also giving thumbs up to a lot of Sanofi posts.....
(20min delay)
