ASX Health Stocks: Zelira shares jump on $4m cannabis distribution deal to Germany
Health & Biotech
Health & Biotech
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Cannabis play, Zelira Therapeutics (ASX:ZLD), jumped 10% in morning trading, after announcing an exclusive distribution deal with Adjupharm in Germany.
Under the deal, Adjupharm will market ZLD’s Zenivol oil, a custom-designed oil to address the needs of insomnia patients that have failed current medications.
Zenivol contains pharmaceutical-grade sunflower oil (20mg THC, 2mg CBN and 1mg CBD per mL).
Apart from Germany, the agreement will also provide Adjupharm with the first right to negotiate other European markets.
There’s a minimum order quantity totalling over $4 million (with $98k in Year 1) for the German market over the 5-year term of the distribution agreement.
This is the first distribution agreement for Zelira’s prescription products outside of the US and Australia.
Zelira share price today:
Shares in ANP were up more than 10% this morning, after the company announced it will present its ATL1102 proteomics data at the World Muscle Society 2021 Virtual Congress, held on 20-24 September.
ANP’s ATL1102 drug has been shown to be effective in reducing multiple sclerosis (MS) lesions in a Phase IIa clinical trial.
That ATL1102 Phase IIa clinical data was also published in the medical journal, Neurology.
World Muscle Society meanwhile, is an international multidisciplinary scientific society dedicated to the advancement and dissemination of knowledge in the neuromuscular field.
UBI announced it has entered into agreements with Victorian Cancer Biobank (part of Cancer Council Victoria,) and the internationally recognised Centre for Cooperative Research in Bioscience, CIC bioGUNE – BRTA.
The agreement will see UBI extend its clinical development trials for the Tn antigen cancer biosensor.
UBI said its objective for the handheld Tn biosensor is to accurately measure a patient’s cancer status (monitoring of remission and reoccurrence) in easier, cheaper and more frequent tests.
The clinical stage biotech company will go ahead with a clinical trial at the end of the year, for its lead clinical compound BNC210 to treat Social Anxiety Disorder (SAD).
Studies have shown the new oral tablet formulation of BNC210 is rapidly absorbed and reaches maximal concentrations in the blood in just 45 to 105 minutes.
The company says this may be well-suited for the acute treatment of SAD patients to better cope with anticipated anxiety-provoking social interactions and other public settings.
Healthia will acquire the Back In Motion Health Group, one of the largest and fastest growing physiotherapy businesses in Australia and New Zealand.
The acquisition consideration is for $88.4 million, comprised of $64.6 million cash, the issue of $16.1 million of clinic-class shares, and the issue of $5.8 million of new shares.
It’s expected to generate for Healthia around 12.7% earnings per share accretive on an FY21 underlying basis.
The medicinal cannabis company said it has clinched its first purchase order from the Valens Company, totalling $540k.
The orders are for white-labelled cannabis products in various formulations, produced at Epsilon’s Southport Facility, to be sold in Australia and New Zealand.
Both companies expect to see further orders of a similar or greater value to continue on an ongoing basis, particularly in the export market.
This is becuse Epsilon’s Southport Facility is capable of meeting the recent demand triggered by the global shift toward GMP (good manufacturing practice), and EU GMP production standard.
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