Zelda Therapeutics’ (ASX: ZLD) medicinal cannabis products will be distributed across Australasia and the United Kingdom under a new agreement with Health House Holdings Ltd.
The agreement follows Zelda’s intent to launch its HOPE products into global markets in 2020, which comprises products that have been made to treat Autism Spectrum Disorder symptoms.
Also included in the agreement is distribution of Zelda’s insomnia investigation formula which will be commercially available pending a positive outcome to the phase II clinical trial.
Zelda anticipates data from the trial will be available in the next quarter.
“This agreement marks another important milestone for Zelda as it prepares to bring multiple medicinal cannabis products to market in 2020,” Zelda managing director Dr Richard Hopkins said.
He added Health House has established itself as a premier independent specialist distribution company.
UK-based Health House wholesales and distributes medicinal cannabis products to community and hospital pharmacies across the UK and Australia.
According to Zelda, the company has an extensive network of healthcare professionals that will help doctors access pertinent information about Zelda’s products.
Health House chief executive officer Tony Samios said the company was “excited” by the potential of Zelda’s insomnia formation due to the “significant” market for products that can improve sleep.
“We’re also looking forward to distributing HOPE which has successfully established itself in the American market and has potential to address a major unmet need for medicines targeting autism.”
HOPE medicinal cannabis products
Zelda will acquire the HOPE product portfolio as part of its merger with Ilera Therapeutics where it is currently sold in the US.
Once the merger is completed, Zelda plans to expand the HOPE medicinal cannabis products into global markets.
Post merger, the combined entity will be rebranded to Zelira Therapeutics and will have operations based both in Australia and the US.
Zelda’s shares were steady at $0.066 in early morning trade.