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PreveCeutical Medical signs non-disclosure agreement with leading drug delivery device manufacturer

The NDA will allow the company to enter discussions for the supply of spray devices for use in the company's soluble gel drug delivery research program.
Sol-gel technology will be applied to cannabinoids to treat a range of symptoms

Health sciences specialist PreveCeutical Medical Inc (CSE: PREV, OTCQB: PRVCF) has signed a non-disclosure agreement (NDA) with a globally recognized, innovative drug delivery device manufacturer.

This will allow the firm to enter discussions with the manufacturer for the supply of spray devices for use in the company's soluble gel drug delivery research program. The aim is to apply the Sol-gel technology to cannabinoids (CBDs) to develop therapies for a range of symptoms, including pain, inflammation, seizures and neurological disorders

A number of prototype spray devices from the manufacturer have been provided to the company’s research partner, the University of Queensland.

READ: PreveCeutical Medical reaches major milestone in its Australia Sol-Gel research program

Led by Preveceutical's chief research officer, Dr. Harendra Parekh, research on the Sol-gel program and testing of the devices for the program is currently being conducted.

"We are pleased to have signed an NDA with this world-leading manufacturer that has set a standard for the drug delivery industry with their advanced quality products. Their recognition of the significance of safety regulations, such as tamper-proof drug delivery devices, are of the upmost importance to us,” said Preveceutical's chairman, chief executive officer and president, Stephen Van Deventer.

“Although the program is still in its preliminary stage, co-ordinating the evaluation of drug delivery devices in parallel with the Sol-gel program demonstrates Preveceutical's commitment to bringing the Sol-gel nose-to-brain delivery system to market."

WATCH: PreveCeutical Medical Inc. receives first cannabis shipment at Australia lab

The group currently runs five research and development programs, notably, its sol-gel platform for nose-to-brain delivery of medical compounds including cannabinoids and dual gene therapy for curative and prevention therapies for diabetes and obesity.

Last month, the firm received the first shipment of dried cannabis flower and oils from cannabis-mammoth Aurora Cannabis, allowing the soluble gel (Sol-gel) delivery testing to begin. Key permits were required to allow this material to be imported into Australia.

Shares on Tuesday (May 8) added 3.45% to C$0.30

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