Australian cannabis company Medlab (ASX: MDC) has entered its second partnership in three months for distributing its cannabis-based spray NanaBis, after securing a heads of agreement with Thai pharmaceutical group Mega Lifesciences.
The agreement means Mega will be able to distribute the drug in "parts of South America", although today's announcement was not specific about which countries in the continent.
Subject to approvals from different health authorities, medicinal cannabis use is currently legal in Brazil, parts of Argentina, Colombia, Perú, Chile, Uruguay and Ecuador.
The announcement follows a deal with Canada's Pharmascience in March.
The buccal spray, meaning it is applied in the side of the cheek, is a highly purified CBD/THC proprietary blend that uses Medlab's patented sub-micron delivery platform Nanocelle.
NanaBis is currently in the second stage of an Australian advanced cancer pain trial, is available for use under the Australian Government's Special Access Scheme and is currently before several regulatory agencies.
"NanaBis is in an exciting stage of its development as the Company looks to fast track global drug approval pathways," says MDC CEO Dr Sean Hall.
"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.
"Being able to collaborate with global pharmaceutical companies like Mega allows MDC the opportunity to expand NanaBis quicker in global territories."
Mega Lifesciences has a presence in 33 countries including in the Asia-Pacific, the Middle East, Africa, the Commonwealth of Independent States (CIS), Latin America and Europe. The group is engaged in manufacturing, marketing, selling and distributing quality pharmaceutical, nutraceutical products and fast-moving consumer goods (FMCG).
Business News Australia
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