- Ayurcann Holdings (AYUR) has signed a manufacturing and distribution agreement with Innocan Pharma Corporation
- Through its subsidiary, Innocan Pharma is a pharmaceutical tech company focusing on the development of several drug delivery platforms combining CBD
- The agreement will see Ayurcann manufacture Innocan’s CBD topical products
- Ayurcann will also act as the exclusive Canadian distributor for the products
- Ayurcann is up 0.67 per cent, trading at $0.15 at 11:37 am ET
Ayurcann Holdings (AYUR) has signed a manufacturing and distribution agreement with Innocan Pharma Corporation.
Through its wholly-owned subsidiary, Innocan Pharma is an Israel-based, pharmaceutical tech company focused on the development of several drug delivery platforms combining CBD.
The agreement will see Ayurcann manufacture Innocan’s CBD Topical products consisting of its Relief and Go and SHIR Beauty skincare collections.
Ayurcann will also act as the exclusive Canadian distributor for the products and will pay royalties to Innocan based on net sales of the products sold by Ayurcann into the Canadian recreational and medical cannabis markets.
“Ayurcann is excited for the opportunity to manufacture and introduce Innocan’s SHIR Beauty and skincare line as well their Relief & Go topical products in Canada. We believe that Innocan’s patent-pending, CBD-integrated products will be some of the highest quality CBD products to enter the market to date.
The pharmaceutical expertise of Innocan together with Ayurcann’s large extraction capacity and manufacturing capabilities will be combined to bring top of the line products to market at scale and price points that will allow for wide market access.
This agreement also positions both companies for CBD deregulation, allowing Ayurcann and Innocan’s CBD products to be further scaled through national retailers at such time,” said Ayurcann CEO Igal Sudman.
The agreement is subject to Health Canada approval.
Ayurcann is up 0.67 per cent, trading at $0.15 at 11:37 am ET.