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Zelda Therapeutics Limited (ASX:ZLD) is a cannabis group which works on a varied range of formulations based on cannabinoid for treating several medical conditions. It specializes in the development of medicines which are used for the treatment of the several important human disorders. Zelda wants to target the most common indications treated with medicinal cannabis such as pain, anxiety, and sleep. It strategically develops treatments based on plant-derived medicinal cannabis products that address the largest possible markets and have the greatest medical impact.
The company, today on 12 March 2019, has announced that it has entered into a binding agreement with Ilera Healthcare, LLC, an US-based medicinal cannabis company. The agreement is done for the sake of exploring a wide range of commercialization opportunities.Â
Ilera is a vertically integrated company which deals in medicinal cannabis. It has its operations based in Pennsylvania and Louisiana, USA. The company is actively involved in cultivation, processing and dispensing of medicinal cannabis. Ilera customizes products with formulations designed to address the unmet clinical needs of patients. Besides, Ilera is expanding its footprint to other states through license applications and partnerships.
Ilera was founded as a science-driven company by executives with extensive experience in the life science capital markets, corporate management and pharmaceutical industries. The chairman Mr. Osagie Imasogie has held senior positions in companies such as GlaxoSmithKline, Endo Pharmaceuticals and DuPont Merck, while Vice Chair Ms. Lisa Gray has worked with SmithKline Beecham Pharmaceuticals and GlaxoSmithKline Pharmaceuticals. The founding CEO Gregory Rochlin is a successful entrepreneur and has also served on the Boards of medical centres and hospitals.
Under the terms of the binding agreement, Zelda and Ilera will explore a range of collaborative and commercialization opportunities which will include co-development of potential full spectrum, uniquely formulated products supported by pharmacokinetic and clinical studies, licensing of clinically validate products and data-sharing and generation of joint intellectual property.
There will be no upfront payments that will be received initially; however, the terms provide for both parties to negotiate separate commercial agreements for the various licensing, co-development and data-sharing opportunities that will be explored under the partnership.
As per the Managing Director of the company Dr. Richard Hopkins, the company is delighted to have an official partnership with Ilera, which is designed to leverage the strong synergies between these two companies. The strengths of Ilera in cultivation, extraction or formulation and distribution are complemented by the expertise of Zelda in clinical validation, product differentiation, and downstream value-adding.
On the price-performance front, the stock of Zelda Therapeutics Limited is currently trading at $0.056, decreased by 1.754% during the dayâs trade, with a market capitalization of $43.05 million (AEST 03:23 PM). The stock has generated a negative YTD return of 1.72% and negative returns of 27.85% and 1.72% over the past six months and one-month period respectively, however, the three-month return stood at 23.91%. It had a 52-week high price of $0.145 and a 52-week low price of $0.033, with an average trading volume of 984,085.
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