Heritage Brands is an Australian-owned company, which operates in the health, wellness and beauty markets.
This would be an additional sales channel for Medlab which currently markets its specialised nutritional products to doctors, naturopaths and other relevant practitioners in Asia, New Zealand and Australia.
The company recently received ethics approvals to proceed with two clinical trials for its cannabis based medicines which are administered using NanoCelle™.
NanoCelle is Medlab’s patented nano-particle spray to the inside of the cheek that quickens absorption of medicine into the bloodstream.
The partnership with Heritage Brands is intended to increase sales to health conscience consumers.
This relationship is expected to take Heritage Brands into the growing nutraceutical space and strengthen the company’s presence in the wellness sector.
Medlab has already developed 24 evidence-based nutritional products, with eight new products in the pipeline.
The company’s share price has almost doubled during the past one year, last trading at $0.80.