- PreveCeutical Medical ( OTCQB:PRVCF ) said it granted Endosane Pharmaceuticals an option to license sol-gel technology for the delivery of cannabinoid products on an exclusive basis.
- The purpose of the option agreement is for Endosane to evaluate the bioavailability of cannabinoids with the sol-gel technology which is expected to result in improved cannabinoid uptake compared to conventional dosage forms, the companies added.
- Endosane, a unit of Sanity Group, is currently undertaking a phase 2B trial of cannabinoid pharmaceutical product to treat schizophrenia.
- PreveCeutical said that Endosane has been, at no charge, granted the exclusive rights to the sol-gel technology for the sole purpose of analyzing and evaluating the technology and its scientific and economic potentials.
- The term is the date of the option agreement to earlier of Dec. 31, 2023, or signing of the license agreement.
- The company said that if Endosane exercises the option, it shall pay the Licensor €1M upfront.
- The license agreement is also expected to contain certain milestone payments plus royalties on sales.
For further details see:
PreveCeutical, Endosane team up for sol-gel tech use in cannabis therapy