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Generex Announces Collaboration for Development of Medical Cannabis Products

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Drug delivery systems and technologies developer Generex Biotechnology Corporation recently announced that it has entered into a non-binding Letter of Intent (LOI) to license its proprietary RapidMist drug delivery technologies to CannaScience Innovations Inc.

CannaScience would use the platform to deliver medical cannabis derived from products into the bloodstream through the buccal membrane. The RapidMist drug delivery platform administers drugs directly into the mouth as a metered dose spray for rapid absorption by the buccal mucosa. Generex’s most advanced product in development using RapidMist is Generex Oral-lyn, which is an insulin spray for the treatment of Type I and Type II diabetes. It is a safe, simple, fast and effective alternative to subcutaneous injections of prandial insulin.

The co-development arrangement with CannaScience is intended to develop products initially for the Canadian medical cannabis market. The current LOI contemplates a significant royalty stream to Generex. CannaScience will be responsible for costs to develop, manufacture and commercialize the products. Products developed under this arrangement may potentially be commercialized in international markets.

CannaScience is an R&D biopharmaceutical company established to conduct research and product development for formulations and extracts related to medical cannabis and its derivatives. The company is developing proprietary technologies and owns know-how related to the chemistry and pharmacology of cannabinoids and potentially how they integrate with various medical devices and drug delivery technologies. CannaScience intends to develop commercial ready products and obtain approval from regulatory authorities for RapidMist in the Canadian and international jurisdictions.

Both Generex and CannaScience believe that absorption of cannabis-derived products through the buccal membrane offers advantages to alternative routes of administration, including a faster onset of activity compared to oral administration, higher level of control for dosing and more predictable absorption and pharmacodynamics.

The companies are still in early-stage discussions and the LOI does not assure that the companies will enter into a license agreement.

Source: Generex Biotechnology Corporation

Last updated: 11/20/14; 10:45am EST