Finance

Aphria signs significant export deal with Australian medical company

New Cannabis ventures reportedly has signed a large cannabis export deal with Medlab Clinical Limited to produce a high volume of cannabis for Medlab in Canada and the final product will be used in a facility in Australia.

At this facility, the cannabis product will be combined with Medlab’s patented medicine delivery system, NanoCelle, which enables sub-micron sized particles to be taken by mouth spray, allowing a swifter and more direct absorption of medicine into the bloodstream.

Medlab’s forthcoming human trial, for management of intractable pain with oncology patients, will apply cannabis whole plant extract of both CBD and THC in a 1:1 ratio with NanoCelle, making it the first trial of its kind globally.

Medlab has exclusivity over the cannabis product it has developed with Aphria and the agreement also marks the beginning of Aphria’s entry into export markets and pharmaceutical development with the use of its product in human trials.

Mr. Neufield, CEO of Aprhia commented, “The supply agreement with Medlab represents the first step in Aphria’s International strategy. Choosing to take that step with an Australian public company, operating in the pharmaceutical space, with the resources to execute and a strategic vision consistent with Aphria’s made Medlab a logical choice as Aphria’s first international partner.”

Refer to the full article released by New Cannabis Ventures here: Aphria signs New Australia Export Deal

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