FinTechFunding

Medlab: Partners with Arrotex for NanoCBD distribution

  • Biotech company Medlab (MDC) has executed a non-binding Heads of Agreement (HoA) with Arrotex Australia Group to develop distribute NanoCBD to Australian Pharmacies
  • The development and distribution of the company’s proprietary cannabinoid formulation NanoCBD also used for treating chronic pain
  • The HoA is the first partnership between a pharma and a biotech investigating medical cannabis in Australia
  • The agreement will also allow the company to fast track the clinical package required for final lodgement of an application via the Therapeutic Goods Administration
  • It isexpected that the definitive agreement including commercial terms will concluded by July 2021
  • Medlab are up 1.54 per cent, trading at 33 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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