The terms of the HoA provide for both parties to negotiate various research, regulatory and commercial milestones involving potential global territories for NanaBis.
NanaBis is a highly purified proprietary blend of cannabis molecules cannabidiol (CBD) and tetrahydrocannabinol (THC).
It is delivered into the body using Medlab’s patented sub-micron delivery platform NanoCelle.
NanaBis is a buccal (side of cheek) spray currently in the second stage of an Australian advanced cancer pain trial.
Patients can access it under the government’s Special Access Scheme and it is currently before several regulatory agencies for potential fast track drug approval pathways.
Medlab’s CEO Dr Sean Hall said: “NanaBis is in an exciting stage of its development as the company looks to fast track global drug approval pathways.
This Heads of Agreement signifies real intent and interest for a true global pharmaceutical company to enter legitimate science as it relates to cannabis that has been research focused into a serious condition: cancer pain.
Collaborating with global companies allows faster expansion
Dr Hall added: “being able to collaborate with global pharmaceutical companies like Pharmascience Inc. allows MDC the opportunity to expand NanaBis quicker in global territories including USA and Canada”.