AUSTRALIAN-LISTED biotech Zelda Therapeutics has entered into a manufacturing and distribution agreement with long-established South American pharmaceutical company Knop Laboratories, primarily to help fulfil its cannabis products strategy.
Knop is a 97-year old pioneer company in the development of homeopathic and phytotherapeutics medicine, and has the biggest chain of 70 pharmacies in Chile.
Combined with its world-class, GMP-standard manufacturing facility, Knop is the ideal partner for Zelda to source GMP-grade material and accessing an existing distribution network to fast-track commercialisation of registered products, the company said in an ASX statement.
Zelda recently placed 85,714,286 shares on the ASX at AU$0.07 per share raising $6m and was quickly oversubscribed with strong support from Australasian institutional investors (PD 11 Apr).
Together with its JV partner, DayaCann, Zelda is undertaking clinical trials in Chile around eczema and insomnia, markets estimated at about $8b, with results expected toward the end of this year, and has ongoing studies into autism spectrum disorder.
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