Date Posted: September 8th, 2018
Early in the year, Remedium Bio-Technology announced that it had expanded its research and development in to their rapid dose medicinal marijuana treatments.
Remedium Bio-Technology, a Canadian bio-technology company whose research and development includes disruptive proprietary drug delivery technologies designed to improve patient outcomes have signed a definitive agreement to bring their range of medical marijuana-infused oral strips to Puerto Rico.
This comes after the company announced a definitive agreement in October to produce their oral strips for a Californian based pharmaceutical distributor.
This development is being seen as testament to the type of products that Remedium Bio-Technology now have available to offer the medical community and will be a significant value driver for Remedium Bio-Technology’s company presence in the medicinal marijuana sector.
Under the terms of the Puerto Rican agreement, Remedium Bio-Technology will receive rights to produce, distribute and sell their thin film products, with exclusive rights for the medicinal marijuana market in Puerto Rico.
This agreement allows Remedium Bio-Technology to further strengthen its position in Puerto Rico by allowing the company to market this type of drug delivery system that will allow them to target a variety of consumers and also allow them to use medicinal marijuana products in a new way.
Daniel Priestley, Ph.D. who serves as Remedium Bio-Technology’s Vice President, Product Development commented, “South America affords us many opportunities which we are keen to explore. We see this Puerto Rican agreement as a stepping-stone for us to gain greater product exposure to the entire South American region.”
"We are currently in discussions with several other countries who would like to take our product under license and partner with us on setting up regional research and development facilities. A lot will depend on when, or if, certain legislation gets passed but we are very confident that when it does we will be in prime position to deliver our products immediately,” Priestley added. Remedium Bio-Technology would not pass comment on the exact countries that they are in discussions with but confirmed that any announcements will be made as soon as they are able to do so.
The South American medicinal marijuana market is one that is being looked upon as very lucrative due to it having a population of nearly 500 million, over 13 countries, most of which have already passed, or are in the process of passing medicinal marijuana legislation bills.
About Remedium Bio-Technology
Remedium Bio-Technology is a leading global medicinal marijuana bio technology company driven by an unrelenting commitment to develop clinically proven cures through clinically proven research. We believe that there is not another company that brings all of our research sectors into one highly synergistic whole. Remedium Bio-Technology’s foundation was also built on testing, analyzing and developing medical and recreational marijuana to ensure compliance with medical and public safety standards.