A new license agreement with Caziwell Inc increases flexibility to expand the clinical trial program.
The agreement provides significant immediate and long-term financial benefits for Zelda and replaces the existing agreement.
Harry Karelis, executive chairman for Zelda, commented:
“The restructuring of the Caziwell Licence Agreement provides a meaningful positive impact to Zelda shareholders by reducing future financial obligations it would have incurred through executing its clinical trials strategy.
"With these amendments in place, Zelda moves closer to industry standards for agreements of this nature.
"We have a full pipeline of opportunities ahead of us and reducing future expenses helps extend our financial capacity to progress these projects.
"We have a very exciting year ahead."
New license agreement benefits
- Zelda maintains exclusive access to patient data, formulations and protocols for use in its current research activities;
- Positive impact on cashflow, with an immediate $200,000 saving;
- Permanent reduction in future royalty and sub-licence fees; and
- Significantly increases flexibility to expand clinical trial program.
Zelda has embarked on a program of human clinical trials initially in sleep disorder (insomnia) and eczema indications.
In addition, Zelda is building a pre-clinical research portfolio targeting cancer.
World-leading Scientific Advisory Board
Prof. Manuel Guzman: Full Professor of Biochemistry and Molecular Biology at Madrid’s Complutense University and expert on the molecular mechanisms of action and role of cannabinoids in controlling cell generation and death.
Dr Cristina Sanchez: Assistant Professor at Complutense University, Madrid Spain. Specialist in the area of lipid signaling, including cannabinoids in an oncology setting.
Dr Joe Goldstrich: Distinguished clinical career in preventive cardiology and nutrition spanning over 40 years. He has evaluated over 3,500 patients in the US using cannabis as a fundamental medicine in the management of a variety of medical conditions.
Dr Noah Federman: Highly respected paediatric clinical and research oncologist. Currently, Director of the Paediatric Bone and Soft Tissue Sarcoma Program at University of California, part of the prestigious UCLA Sarcoma Program and UCLA's Jonsson Comprehensive Cancer Centre.
Zelda continues to expand its relationships and agreements in the sector.
The company has a strong background in medical cannabis, and was formed to fund clinical efficacy trials developed by its U.S. partner, Aunt Zelda, and used to treat a range of diseases showing strong efficacy data.
Investors are recognising the potential since the listing (via RTO) in November 2016, where shares could be purchased at $0.025 in the $4 million raising.
Since then Zelda has more than tripled in value, last trading at $0.085 per share.