)
Zelira (ASX: ZLD) has partnered with US-based Cardiovascular Solutions of Central Mississippi (CVSCM) to develop and commercialise CBD and hemp products to target symptoms associated with Peripheral Arterial Disease (PAD) and Diabetic Neuropathies (DPN).
Under the agreement, Zelira will grant an exclusive licence to CVSCM to manufacture, sell and otherwise commercialise Zelira's proprietary cannabis-based formulations in the USA.
Zelira will exclusively own all products developed under the agreement, with the licence granted to CVSCM to last five years in the first instance and renewable for additional five-year periods.
Read more: Australia's top 20 cannabis companies
A major potential complication of diabetes, a public health crisis in the US that is projected to affect one in three Americans by 2050, is the development of atherosclerosis leading to PAD and DPN.
According to the US Department of Health and Human Services, for the 30 million Americans who suffer from diabetes one in three over the age of 50 will develop PAD, a disease that is the leading cause of non-traumatic amputations.
DPN is also a leading cause of disability, leading to foot ulcerations, gait disturbances, and can potentially lead to infection and limb amputation.
"Our partnership with CVSCM is in line with our mission to target indications where cannabinoid-based medicines can be used as safe, effective and accessible options," says Zelira CEO and managing director USA Dr Oludare Odumosu.
"This collaboration represents the first of its kind in this field and allows us to focus on the impact of PAD on quality of life for patients.
"Zelira is proud to bring our scientific product development expertise to this unmet need and expands our reach into new indications and markets."
Zelira's move into treating symptoms associated with PAD and DPN with cannabis-based formulations sees the company bolster its stable of scientific research.
The company is already undertaking product development programs targeting specific conditions via its revenue generating HOPE branded cannabis formulations and human clinical trial programs focused on insomnia, autism, and opioid reduction in patients with chronic non-cancer pain.
Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
)
)
)
)
)
