logo-loader
viewZelira Therapeutics Ltd.

Zelira Therapeutics will expand HOPE® distribution to US state of Louisiana

The HOPE® product will be available in Louisiana, a state of around five million residents, from the first quarter of 2020.

Zelira Therapeutics Ltd - Zelira Therapeutics expands HOPE® distribution in the US
The HOPE® product line is specifically designed for patients with Autism Spectrum Disorder

Zelira Therapeutics Ltd (ASX:ZLD) will bring its HOPE® Franchise to the US state of Louisiana with a licensing agreement that will generate immediate revenue through an up-front fee and ongoing royalties.

HOPE® was launched in Pennsylvania in May 2019 and has shown strong revenue growth after establishing itself as the top-selling medicinal cannabis product line in Pennsylvania.

The pharmaceutical-grade product line HOPE®  was developed to specifically address patient symptoms associated with Autism Spectrum Disorder.

Louisiana launch

Zelira Therapeutics Ltd, the newly formed merged company aligning Zelda Therapeutics Ltd, an Australian-based bio-pharmaceutical company, and Ilera Therapeutics LLC, a privately held medicinal cannabis and cannabinoid science company based in Pennsylvania, expects to launch its global strategy to Louisiana by the first quarter of 2020.

The HOPE® formulated proprietary medicinal cannabis product line, which was developed by the Ilera Therapeutics team, has received support from organisations such as HOPE Grows for Autism, a leading autism advocacy group based in Pennsylvania.

Zelira's chairman Osagie Imasogie said: "Our objective is to deliver high-quality, clinically validated products and options to patients and physicians.

“We are thrilled to bring this medicine to Louisiana and its approximately 5 million residents, allowing a broader reach for patient accessibility.

“Additionally, we are engaging the US and international operators to extend the benefits of HOPE® to an even greater patient population while we continue to obtain data and gain additional understanding of the impact of medicinal cannabis on these patients.”

Zelira is licensing HOPE® to Louisiana-based Advance Biomedics LLC so that it can bring HOPE® products to patients throughout the state.

The company will have direct access to the US with over 4-million registered patients as well as Australia, Germany and the United Kingdom.

Strategic partnerships

This merger brings a long-term supply and distribution relationships with pharmaceutical-grade manufacturers in Europe and the US ensuring access to commercial-scale quantities of pharmaceutical-grade medicinal cannabis to supply large and growing patient populations.

Deputy chairman Harry Karelis said: “This team has world-class expertise in clinical trial design, drug development, cannabinoid science research and product launch, distribution and management.

"With HOPE® in the US and global markets, we now have the accessibility to address more patient needs and the ability to distribute the HOPE® portfolio through licensing agreements within the US and globally, with expected revenues in the first half of 2020."

Zelira has formed a strategic partnership with European medicinal cannabis group HAPA Pharm BV to access HAPA Pharm’s EU-GMP grade manufacturing capabilities.

The company’s other proprietary product, CAN-001 is being developed for the treatment of chemotherapy-induced nausea and vomiting (CINV), which occurs in approximately 80% of the new 23.6 million cases of cancer annually worldwide.

Quick facts: Zelira Therapeutics Ltd.

Price: 0.067 AUD

ASX:ZLD
Market: ASX
Market Cap: $58.45 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zelira Therapeutics Ltd. named herein, including the promotion by the Company of Zelira Therapeutics Ltd. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Zelira Therapeutics on recent acquisition with Ilera

Zelira Therapeutics Ltd (ASX:ZLD) founder and chairman Osagie Imasogie and deputy chairman Harry Karelis speaks to Proactive on the recent acquisition of Ilera Therapeutics LLC.  Following overwhelming shareholder support, the merger will create a global medicinal cannabis company called...

on 2/12/19

3 min read