The agreement will see the two companies work in partnership to develop an oral spray capable of utilising “pharmaceutical-grade cannabinoid derivatives” to treat various ailments such as multiple sclerosis, epilepsy and nausea.
SUDA specialises in developing oro-mucosal drug delivery systems that enable patients to consume drugs with mucous surfaces inside the mouth, such as the cheeks or via the tongue, gums and palate.
According to deal terms, Zelda will pay SUDA an option fee of $200,000 consisting of an upfront payment of $100,000 and a further $100,000 in downstream milestone payments.
In parallel, Zelda has agreed to fund pre-agreed project expenditure.
Under the 12-month work plan, SUDA will apply its proprietary OroMist oro-mucosal spray technology to deliver Zelda’s pharmaceutical-grade cannabis formulations.
Furthermore, the companies have agreed on a supplementary 24-month option which provides Zelda with the exclusive right to extend the agreement and to enter into an exclusive global development and licensing agreement for oral spray formulations containing medicinal cannabis developed by SUDA.
SUDA is currently developing a range of low-risk oral sprays using its proprietary OroMist technology that is capable of reformulating existing pharmaceuticals and making them available for patient’s consumption using alternative ingestion methods.
The potential benefits of administering drugs through the oral mucosa include ease of use, lower dosage, reduced side effects and faster response time.
Possibly most important is the ability to make medicinal cannabis available on a wide scale without resorting to pills, injections or worst of all, smoking cannabis directly (as is currently done by non-sanctioned unregulated means by millions of self-medicating patients around the world).
Zelda says it is an emergent bio-pharmaceutical company that is developing cannabis-infused medicines that are entering a period of heightened demand on the back of progressive softening of legislation in Australia.
Together, the duo hopes to combine their respective specialisations to create novel medical treatments for a wide variety of applications for consumers.
“Our aim is to improve upon existing market-approved oral-mucosal formulations that have proven very effective for delivering cannabis medicines in patients,” said Dr Richard Hopkins, managing director of Zelda Therapeutics.
“Having access to proprietary technologies strengthens our competitive position and helps accelerate our path to commercialisation,” said Mr Hopkins.
According to SUDA’s managing director Stephen Carter, the company’s technology can offer “unique advantages compared to other routes of administration for delivering medicinal cannabis.”
“We believe our technology can offer unique advantages compared to other routes of administration for delivering medicinal cannabis,” said Mr Carter.