COLLIE, Western Australia and NEW YORK, Nov. 23, 2021 /PRNewswire/ -- Cannaponics Limited "Cannaponics", a licensed medicinal cannabis cultivation, manufacturing and research company, is pleased to announce a licensing partnership with New Age Nanotech, a provider of the leading clinically-backed drug delivery technology for cannabinoids, called Solutech™.
According to the terms of the agreement, the license allows for product development and commercialization of both pharmaceutical and consumer products, including API, final dose forms such as medicines and clinical trial products, complimentary medicines, cosmeceuticals, food supplements, nutraceuticals, and oral solutions. Potential future product developments may include liquid shots, and ready-to-drink beverages containing cannabis derived THC and/or CBD. Cannaponics shall have exclusive rights for Australia and non-exclusive rights for certain countries in South East Asia and Europe, as well as Israel and Brazil.
"Our vision at Cannaponics is establishing a carbon-neutral pharmaceutical facility to grow high quality cannabis crops and develop effective plant-based pharmaceuticals. Our partnership with New Age Nanotech's cutting-edge Solutech™ will allow us to build on successful Phase 1 clinical trials and demonstrate clinical efficacy for proprietary treatments for patients in need. Our Solutech™ based treatment range will complement our traditional medicinal cannabis formulations and may allow future expansion into the nutraceutical and beverage sectors as regulations allow," said Rod Zakostelsky, Founder and Managing Director of Cannaponics.
Cannaponics, at its sole cost and expense, will be responsible for development and commercialization of the cannabis products and will have the right to manufacture the licensed products in Australia. Under the terms of the agreement, Cannaponics will maintain exclusivity of the license in Australia based on certain commercial metrics.
New Age Nanotech is an expert in oral delivery technologies, and offers Solutech™ - a clear, pharmaceutical-grade, bioactive formulation to the cannabis and pharmaceutical industries.
"We are excited to enter into this partnership together with Cannaponics, who shares our strategic vision to provide unique, high quality, clinical evidence-based cannabis products to patients and their potential future adult-use consumers."
New Age Nanotech's early research on Solutech™ showed dramatically increased speed of absorption and elimination (fast onset and offset of effects) and peak blood levels, along with a consistent and desirable consumer experience. Most notably, Solutech™ was evaluated successfully in a pivotal Health Canada Phase I human clinical trial led by KGK Science, a premier clinical research organization. All subjects who were administered Solutech™ experienced an onset of effects within minutes, with the full onset occurring after 20 minutes. After about 2.5 hours post-dose, the effects diminished consistently, as well. A predictable onset and offset may allow for a better experience with cannabis as well as an ability to re-dose effectively, if desired.
Cannaponics Limited is an Australian licensed medicinal cannabis company with a focus on research, cultivation, and manufacturing. Cannaponics is developing a technologically advanced medicinal cannabis operation in Collie, Western Australia and creating long-term local jobs in the rapidly growing medicinal cannabis industry. The facility is under construction which will include over 20,000sqm advanced technology greenhouse cultivation and 6,000sqm European Union Good Manufacturing Practice (EU GMP) manufacture unit. The facility will produce dried cannabis flower, active pharmaceutical ingredients, oils, Solutech™ and other medicinal formulations. The new EU GMP facility will operate under the Australian Therapeutic Goods Administration (TGA) Manufacture License. The project plans to use 100% renewable energy resources with Cannaponics subsidiary company CannaEnergy™, building a 25,000sqm solar farm, plus wind and hydrogen gas turbine power micro-grid with advanced water harvesting technology. The microgrid and water harvesting capabilities will massively reduce costs of production by up to 80%. The aim is to offer affordable pricing for patients, optimize Cannaponics bottom line and enhance value to shareholders.
For more information on Cannaponics, please visit www.cannaponics.com.au
ABOUT NEW AGE NANOTECH
New Age Nanotech is enabling the world's most innovative, clinically-backed, and consumer-focused products to improve health and wellness through Solutech™, the company's flagship water-soluble delivery technology. Solutech™ offers a fully characterized pharmacokinetic and pharmacodynamic profile for consumer products to champion safe & effective use. New Age Nanotech offers Solutech™ to CPG brands for the development and commercialization of innovative, convenient, and controlled-dose products that speak to the evolving needs of their consumers. For inquiries about Solutech™: (800) 210-9809 or email@example.com.
NEW AGE NANOTECH CONTACT
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