*The Hydroponics Company (“THC”) has implemented a major step in its medicinal cannabis strategy – exclusive strategic alliance executed by wholly-owned subsidiary Canndeo Ltd (“Canndeo”)
*US-based pharmaceutical company Phoenix Life Sciences (“Phoenix Life”) will partner with Canndeo to accelerate the introduction of proprietary medicinal cannabis solutions into Australia
*Phoenix Life to provide certified products, formulations, intellectual property and doctor-driven delivery methodologies, leveraging Canndeo’s access in Australia
*Strategic Alliance will also explore opportunities to collaborate with medical associations to advance professional development in Australia
*Medicinal Cannabis Research Licence Application lodged in Feb 2017
SYDNEY, Australia, May 24, 2017 /Weed Wire/ — The Hydroponics Company Limited (ASX:THC) (“THC” or “the Company”) is pleased to announce that it has signed an exclusive Strategic Alliance with Colorado-based healthcare solutions company Phoenix Life Sciences Inc (“Phoenix Life”) to collaboratively research, develop, manufacture, distribute and sell medicinal cannabis products in Australia and internationally.
The Strategic Alliance will allow Phoenix Life to develop products, formulations, packaging knowledge base, product delivery methodologies, marketing support and brand management in collaboration with Canndeo, while enabling Canndeo to establish an effective route to deliver medicinal cannabis products into Australia. Phoenix Life is currently building production facilities to export cannabidiol products in North America and through its alliance with THC, these medicinal cannabis products will also be available in Australia. Full form agreements documenting the exclusive Strategic Alliance will be entered.
Phoenix Life seeks to disrupt mainstream healthcare with vertically integrated pharmaceutical research, development, and production of cannabis-based therapeutics to replace opiate based painkillers, THF-inhibitors, anti-inflammatories, biologic medications, antidepressants, and sleep medications. The alliance will explore opportunities to collaborate with medical associations to assist with the roll-out strategy for these products in Australia, including Phoenix F.A.S.T (Fast Acting Sublingual Tablets), Oral Soft Gels, Thin Film Dissolving Strips, Sublingual Sprays & Transdermal Patches.
Commenting on the alliance agreement, THC’s Chairman Alan Beasley, said: “We are very pleased to have joined forces with Phoenix Life Sciences, an international producer of high quality pharmaceutical-grade medicinal cannabis products. This partnership will rapidly accelerate the development of THC’s supply chain for importing medicinal cannabis products in Australia through Canndeo, and significantly expands our capabilities to advance intellectual property and research and development into cannabis delivery systems.”
Phoenix Life Sciences’ Chief Executive Officer, James Baumgartner, said: “We are delighted to be partnering with Canndeo and The Hydroponics Company for research, development, manufacturing, distribution, sales and other initiatives in Australia. This partnership will allow Phoenix Life to expand distribution of medicinal cannabis products and jointly deliver cannabis products into the emerging Australian market and internationally. We see Canndeo as a strong partner in our worldwide expansion.”
Dr Andrew Beehag, Chief Executive Officer of Canndeo Limited, said: “This collaboration is a major step forward for Canndeo as a leading supplier of medicinal cannabis products in Australia. Our international partnership with Phoenix Life, a highly regarded, US-based pharmaceutical company will bring a number of strategic benefits, and help Canndeo to accelerate our roll-out strategy in Australia.”
About Phoenix Life Sciences www.phoenix.life
Phoenix Life Sciences is a disruptive healthcare solutions company.
By combining new and existing research with state of the art production, Phoenix Life Sciences plans to distribute products around the globe that target and treat the following seven major categories of medical conditions: pain, cancer, psychological, gastrointestinal, autoimmune, neurological, and sleep disorders. These categories include conditions that affect hundreds of millions of patients worldwide.
Phoenix Life Sciences intends to build an integrated healthcare organization by creating products and programs using emerging biological products such as cannabinoid and other plant extracts. Phoenix delivers these programs through managed agriculture, pharmaceutical production and physician education and distribution networks.
For further information, please contact:
Director Corporate Media Relations
MMR Corporate Services Pty Ltd
Level 2, 131 Macquarie Street
Sydney, NSW 2000 Australia
P: +61 2 9251 7177
M: +61 449 607 636
About The Hydroponics Company
The Hydroponics Company (ASX:THC) is at the forefront of developing a leading, diversified worldwide cannabis business, focused on three core business units: Development and delivery of medicinal cannabis, manufacturing and distribution of hydroponics equipment, materials and nutrients, and large scale hydroponic greenhouse design and construction. With +17 years of Cannabis sativa breeding, variety selection and growth management, THC is actively developing plant breeding technology to target multiple markets for high purity cannabidiol (CBD), including a new class of medicinal products targeting dementia, epilepsy and other neurological disorders.