Pharmacy Daily | Medlab inks Canadian deal

AUSTRALIAN medical life sciences company Medlab Clinical (MDC) has announced that it has executed a Heads of Agreement with Canadian pharmaceutical company Pharmascience for the further development and global distribution of NanaBis.

The terms of the Heads of Agreement provide for both parties to negotiate various research, regulatory and commercial milestones involving potential global territories for NanaBis.

Founded in 1983, Pharmascience is the fourth largest generic pharmaceutical company in Canada and has over 35 years of experience in servicing patients and healthcare providers.

Pharmascience employs 1,500 employees worldwide and is headquartered in Montral, Canada as a full-service, privately owned pharmaceutical company that has strong roots in Canada and a growing global reach.

The firm develops and distributes its products to patients and healthcare professionals in more than 60 countries.

As a company, they have invested in excess of CA$500m in R&D since inception.

NanaBis is a highly purified CBD/THC proprietary blend using MDC's patented sub-micron delivery platform called NanoCelle.

NanaBis is a buccal spray currently in the second stage of an Australian advanced cancer pain trial, available for use under the Australian Government's Special Access Scheme and currently before several regulatory agencies for potential fast track drug approval pathways.

Dr Sean Hall, CEO of MDC stated, "NanaBis is in an exciting stage of its development as the company looks to fast track global drug approval pathways.

"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."

Hall further commented, "being able to collaborate with global pharmaceutical companies like Pharmascience allows MDC the opportunity to expand NanaBis quicker in global territories including USA and Canada."