Australia-based SUDA Pharmaceuticals and Zelda Therapeutics have signed a feasibility and option agreement to develop a medical grade cannabinoid oral spray.
As part of the deal, SUDA will optimise its OroMist oro-mucosal spray technology to deliver Zelda’s pharmaceutical-grade cannabinoid derivatives. The resulting products are set to be assessed by Zelda.
The partnership aims to provide Zelda with a variety of therapeutic targets.
SUDA Pharmaceuticals CEO and managing director Stephen Carter said: “We are delighted to be working with Zelda in the field of medical grade cannabis (MGC) to assess the feasibility of formulating MGC for a wide range of conditions utilising our OroMist and Hydrotrope platforms.
“We believe that our technology can offer unique advantages compared to other routes of administration which will further benefit patients seeking MGC therapy.”
Under the terms of the agreement, Zelda will pay an optional fee of $200,000, including $100,000 upfront payment to SUDA. The company will also pay additional $100,000 in milestones and fund the formulation activities.
Zelda gains a 24-month option for the exclusive rights to extend the deal and enter into a global development and licensing agreement for the oral spray formulations developed by SUDA.
In addition, the current agreement consists of an exemption for Zelda over multiple therapeutic areas where SUDA has ongoing discussions with other cannabis companies.
Zelda Therapeutics primarily develops cannabinoid-based formulations for the treatment of different conditions.
Currently, the company is conducting a human clinical trial programme in Australia and the US for insomnia, autism and opioid reduction.
A pre-clinical research programme is also being carried out to evaluate the effect of cannabinoids on breast, brain and pancreatic cancers, as well as their use in the treatment of diabetes-associated cognitive decline.