Cannassure Therapeutics Ltd and Lipidor AB Enter a Feasibility Study and Licence Option Agreement for Development and Sales of Topical Medical Cannabis Products Based on AKVANO Technology

ASHDOD, Israel , Dec. 11, 2019 /PRNewswire/ -- Cannassure Therapeutics Ltd (TASE: CSURE) ("Cannassure"), an Israel based developer and producer of innovative medical cannabis products, and Lipidor AB (Nasdaq First North: LIPI) ("Lipidor"), a Swedish topical drug development company, have today signed an agreement for the joint development of topical medical cannabis products commencing with evaluating the feasibility of incorporating active pharmaceutical ingredients (APIs) from the cannabis plant in Lipidor's proprietary drug delivery platform technology AKVANO.

Subject to a successful feasibility study, Cannassure has an option to enter an exclusive global license for the use of Lipidor's Technology. Cannassure will implement the technology for the development and commercialization of sprayable medical cannabis products based on AKVANO.

The joint ambition is to introduce innovative products for topical treatments on the fast-growing global market for medical cannabis. According to an IMARC Group report, the global market for medical cannabis is expected to reach 44 Bn USD in 2024.

"Cannassure considers the engagement with Lipidor a meaningful milestone and in line with the company's mid-term strategy ? development and commercialisation of innovative medical cannabis products based on established drug delivery systems and formulations for enhanced therapeutic value. We found in Lipidor a professional and dependable partner and we look forward for a fruitful collaboration. Formulation work will take place in Israel at Cannassure's state of the art facilities with on-site support from Lipidor´s formulation experts. The feasibility study is expected to conclude in Q3 2020," says Ran Amir, Cannassure's CEO.

"We are impressed by Cannassure's high standards and progressive approach to business development in the medical cannabis field. For Lipidor the agreement with Cannassure has a significant commercial potential and we will, based on the outcome of the feasibility study, come back with more details on the size of this great opportunity," says Ola Holmlund, CEO of Lipidor

Dr. Hadile Ounallah Saad, VP R&D Cannassure added:

"Scientific data clearly demonstrates that cannabinoid signalling has an impact on the maintenance of skin homeostasis, barrier formation and regeneration in both health and disease. It is therefore likely that developing a topical cannabis product based on the unique AKVANO technology will be helpful for related unmet clinical needs."

"We already have pre-clinical evidence that cannabinoids can be successfully incorporated with AKVANO. Therefore, we have high hopes of a successful feasibility study and continued pre-clinical and clinical studies together with Cannassure," says Jan Holmbäck, Lipidor´s CSO.

About Cannassure Therapeutics Ltd (Publ)

Cannassure Therapeutics Ltd. is operating to become a leading, world class, trusted developer and provider of top-quality-grade medical cannabis products and pharmaceutical cannabinoid medicines, addressing a broad range of unmet medical needs.

About Lipidor AB

Lipidor AB (www.lipidor.se) is a Swedish, Stockholm-based research and development company with a pipeline of pharmaceutical development projects in preclinical and clinical phases. The Company develops topical medical products for the treatment of diseases such as psoriasis, bacterial skin infections and atopic dermatitis by reformulation of proven pharmaceutical substances.

SOURCE Cannassure Therapeutics