Columbia Care and Rhinomed Enter into Exclusive Agreement to Develop Nasally-Delivered Cannabis-Based Products
Collaboration will allow Columbia Care to develop proprietary dose-metered, nasally-delivered cannabis-based medicines
NEW YORK, June 21, 2018 (GLOBE NEWSWIRE) -- Columbia Care, LLC, the nation’s leading medical cannabis company, announced that it has entered into a licensing agreement with Australia-based nasal respiratory company Rhinomed (ASX:RNO) for the collaborative development of nasally-delivered cannabis-based medicines. Columbia Care has exclusive rights to develop, import, market, promote, distribute and sell the developed products in the United States.
“Our collaboration with Rhinomed, which will result in proprietary dose-metered, nasally-delivered cannabis-based medicines, demonstrates our commitment to remaining at the forefront of product innovation in the medical cannabis industry,” said Nicholas Vita, chief executive officer of Columbia Care. “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.”
Michael Johnson, chief executive officer of Rhinomed, said, “Partnering with Columbia Care will enable Rhinomed to continue to develop our delivery platform across a range of clinical applications. This partnership underscores our commitment to improving patients’ lives by offering revolutionary products capable of addressing significant unmet medical needs. We are delighted to collaborate with Columbia Care in pursuit of this goal.”
Under the terms of the agreement, Columbia Care and Rhinomed will collaborate on the development of one or more new versions of Rhinomed’s existing device. The program, which will be developed in Columbia Care’s research and manufacturing facilities nationally, will optimize delivery of consistent doses of Columbia Care’s pharmaceutical-quality cannabis-based medicines via nasal administration.
About Columbia Care
Columbia Care is the nation’s largest and most experienced manufacturer and provider of medical cannabis products and services. The Company is licensed in highly selective and regulated jurisdictions and has completed more than 750,000 successful patient interactions since its inception. Working in collaboration with some of the most renowned and innovative teaching hospitals and medical centers in the world, Columbia Care is a patient-centered healthcare company setting the standard for compassion, professionalism, quality, caring and innovation for a rapidly expanding new industry. For more information on Columbia Care, please visit www.col-care.com.
About Rhinomed Limited (ASX:RNO)
Rhinomed Limited is a Melbourne based technology firm with a focus on nasal, respiratory and breathing management technologies. Rhinomed is seeking to radically improve the way you breathe, sleep, maintain your health and take medication. The company is rapidly commercializing its platform and has brought two products to market that are now sold globally. For more information go to www.rhinomed.global
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Released June 21, 2018