- 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
