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Zelda Therapeutics in deal with Ilera to access US market

Ilera is a vertically integrated medicinal cannabis company with operations based in Pennsylvania and Louisiana.

cannabis plant
Ilera’s operations cover the cultivation, processing and dispensing of medicinal cannabis

Zelda Therapeutics Ltd (ASX:ZLD) has entered into a binding heads of agreement (HoA) with US-based medicinal cannabis company Ilera Healthcare, LLC to explore collaborative opportunities.

The broad range of commercialisation opportunities includes licensing of Zelda products, co-dev elopement and data sharing.

No upfront payments will be received initially however the terms provide for both parties to negotiate separate additional commercial agreements.

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Zelda’s managing director Dr Richard Hopkins said: “We’re delighted to formalise our partnership with Ilera, which is designed to leverage the strong synergies between our companies.

“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.

“Given the current barriers to undertaking clinical trials using medicinal cannabis at the Federal level in the US, Zelda can help fast-track clinical validation of Ilera products while Zelda potentially gains access to a significant North American market for its products.”

Partnerships now provide access to 110,000 patients globally

This partnership reinforces the global breadth of Zelda’s relationships and shows our focus on commercialising our clinically validated formulations.

“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 than the current Australian market.”

Deal unlocks value for both parties

Ilera noted that entering the partnership with Zelda was part of its strategy to extend the reach of its research and product development around the world.

Ilera’s installed capacity to formulate specific medicines, its commercialisation expertise combined with its executive teams’ global experience creates a unique opportunity for this partnership to deliver condition-specific cannabinoid-based medicines to the global stage.

READ: Zelda Therapeutics reflects on busy December half

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