NTI secures strategic Cultivation partnership to grow and maintain its medical cannabis
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Neurotech International Limited (ASX:NTI) has announced a strategic cultivation partnership with CannaPacific Limited to grow and maintain genetic stock and assist in the development of elite varietal strains through their exclusive licencing agreement.
The partnership supports NTI as it prepares for expanded clinical studies in larger patient groups in calendar Q2/Q3, which will follow successful outcomes of the Phase I/II clinical trials that have begun this quarter.
Current trial parameters are intended to form the basis for larger future studies which will assess the efficacy of these strains in a broader patient population in respect of autism and related neurological disorders.
CannaPacific will house the genetic stock and assist in the development of NTI's exclusively licensed Dolce varietal strains within CannaPacific's Northern NSW cultivation facility.
CannaPacific is licensed and permitted by the Australian Government (Office of Drug Control) to cultivate and research medicinal cannabis which is a requirement to commence sales under the TGA Special Access Scheme.
When commenting on the partnership, Brian Leedman, Chairman of Neurotech International said, “We have previously stated that positive results from our initial trial will pave the way for larger studies to address the unmet need for effective treatments for autism and broader neurological conditions.
“The partnership with CannaPacific allows NTI to ensure that we can maintain momentum with our clinical studies through quality product supply and importantly, maintain and develop our intellectual property base through our exclusive licensing of the Dolce Cann strains”.
Joshua Dennis, CannaPacific CEO added, "CannaPacific is delighted to work with the NTI/Dolce team to assist in providing a GMP supply chain for their unique varieties within our Northern NSW facility.”
“We’re creating an agricultural innovation hub for companies who wish to enter the medicinal cannabis space and leverage our existing cultivation and production facility.”
Terms of the Agreement
The agreement between Neurotech and CannaPacific is for an initial period to 30 June 2021 and does not contain provision for termination prior to this date and is subject to mutual due diligence and the receipt of all relevant regulatory approvals.
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