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Zelira inks distribution deal with US group

7 May 2021
Rueben Hale
Business network concept. Shaking hands.

Medicinal cannabis company, Zelira Therapeutics, has entered into an exclusive licensing agreement to distribute its HOPE range of autism spectrum disorder products in Washington DC.

The Perth-based, ASX-listed developer of clinically-validated cannabis medicines has tied up with Alternative Solutions, a licensed grower, manufacturer and distributor of medical cannabis products in the District of Columbia, Washington DC.

Under the agreement, Alternative Solutions will commercialise Zelira’s HOPE products for sale in the second quarter of 2021. Zelira will receive an upfront fee and royalties from the sales in Washington DC.

As Washington DC has reciprocity with 32 other states in the US with approved medical cannabis programmes, this agreement effectively extends Zelira’s reach to patients in all these states who can purchase medical cannabis from approved dispensaries.

Zelira previously licensed HOPE in Pennsylvania to Ilera Healthcare and in Louisiana to Advanced Biomedics. Its success in Pennsylvania has boosted the company’s confidence that the products will be accepted in other US markets.

“The successful launch of HOPE in Washington DC is a huge step forward in Zelira’s strategic focus on expanding access to HOPE throughout the USA,” Zelira’s managing director, Dr Oludare Odumosu, said. “We look forward to partnering with Alternative Solutions to support the growth of our product in these new markets.”

Founded in 2003, Zelira has a portfolio of therapeutic medical cannabis products and a pipeline of candidates undergoing clinical development.

Working with world-leading researchers and organisations such as the Curtin University in Perth, the St. Vincent’s Hospital in Melbourne and the Children’s Hospital of Philadelphia in the US, the company is focused on developing cannabinoid-based medicines for the treatment of conditions such as insomnia, autism and chronic non-cancer pain.

The company reported record revenue for the quarter ending 31 March 2021 on a 249 per cent jump in product sales and licencing income to $225,000. This was driven by the launch of its SprinjeneCBD hemp-derived oral care product in the US in December 2020.

 

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