Cannabis biotech Zelda has inked a deal with the new German arm of former ASX tech wreck 1-Page.
Zelda (ASX:ZLD) has promised 1-Page subsidiary HAPA Medical the first rights to distribute or make for the German market any formulations the biotech finalises.
Zelda will finish an insomnia clinical trial around the middle of 2019.
But because cannabis is already being prescribed by doctors without much trial data to back its efficacy, Dr Hopkins says that if the data shows it’s successful they could sell an oil product for insomnia in Germany soon after the trial finishes.
Dr Hopkins pointed out a key reason for going to German rather than the Canadian market: size.
“Germany is expected to become the world’s single largest market for medicinal cannabis,” he told investors.
Medical cannabis was fully legalised in March 2017 in Germany and insurers already cover the associated drugs, meaning it’s effectively subsidised for users.
In Australia and Canada health insurers do not cover medical cannabis.
Germany also has a population of 83 million, compared to Canada’s 37 million and Australia’s 25 million.
Zelda shares ticked up 1.3 per cent to 7.8c. They’ve traded between 6.7c and 16c over the past year.
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