The programme involves testing an array of cannabis strains to commercialise cannabinoid-based soluble gels.
Conventional methods of nasal drug delivery, such as drops and sprays, fail to deliver therapeutics far enough into the nasal cavity and are rapidly removed by the body's cleaning mechanisms.
Preveceutical's soluble gel formulations aim to resolve this by providing a fast nose-to-brain delivery of a host of therapeutic agents, including cannabinoids.
The group is developing a custom soluble gel applicator and its research partner, The University of Queensland, has received several prototype soluble gel spray devices from the group's manufacturer.
Although evaluations are ongoing, the preliminary results are promising, said the company.
Preveceutical shares are unchanged at C$0.065.