Australian based nasal medicine technology company Rhinomed (ASX: RNO) has entered into a licensing agreement with United States based medicinal cannabis manufacturing and distribution healthcare company Columbia Care.
The agreement will provide Columbia Care the exclusive rights to manufacture, market, distribute, and sell a series of cannabinoid derived nasal- delivered medicines for patients in America.
Rhinomed has extensive experience with the development of these technologies and has already released products that help promote improved breathing when exercising and help reduce snoring to promote better rest when sleeping. Their two products Turbine and Mute are sold worldwide.
A number of different manufacturing and technology companies have entered into partnerships with cannabis companies as of late. The purpose is to develop alternative delivery systems than the common way for patients to consume cannabis by way of the inhalation of smoke.
Columbia Care already has an extensive network of 750,000 medicinal patients to tap into once the two companies launch the new product line. The company works directly with “renowned and innovative teaching hospitals and medical centers in the world…”
Nicholas Vita, CEO of Columbia Care gave this statement in the press release:
“By combining Rhinomed’s patented nasal delivery technology with our years of expertise developing pharmaceutical-quality cannabis-based medicines, we will be able to provide another dose-metered medicinal format option to our patients who are in need of consistent medicines. We look forward to developing these transformative medicines and providing them to our patients as soon as possible.”