Lipidor announces positive outcome of feasibility study for development of topical medical cannabis products based on the company's AKVANO® technology

Lipidor announces positive outcome of feasibility study for development of topical medical cannabis products based on the company's AKVANO® technology

PR Newswire

STOCKHOLM, Sept. 30, 2020

STOCKHOLM, Sept. 30, 2020 /PRNewswire/ -- Lipidor AB (Nasdaq First North:LIPI) today announces a positive outcome of the feasibility study into the development of topical medicinal cannabis products for the treatment of skin inflammations and psoriatic lesions. The study was conducted in collaboration with Cannassure Therapeutics Ltd. , an Israeli company specializing in the development and manufacture of innovative medicinal cannabis products. Under the joint development agreement signed in December 2019, Cannassure has now announced that it intends to exercise its option and begin the negotiation of an exclusive licensing agreement for the use of AKVANO®, Lipidor's proprietary drug delivery technology, for the indications chosen by Cannassure. The main guidelines for the licencing agreement, including royalties (double digit) to be paid to Lipidor on product sales, were defined in the collaboration agreement.

The collaboration began with an evaluation of the possibility of incorporating various active drug substances from the cannabis plant into AKVANO®. The formulation work has been carried out in Israel at Cannassure's state-of-the-art facilities with support from Lipidor's formulation experts.

The product under development is based on a topical medical cannabinoid that has been incorporated into the AKVANO® formulation platform. The successful development of the product will make it possible to administer the medical cannabinoid as a spray, locally and in the exact desired amount, which together ensures improved contact and optimal penetration of the active substance into the skin.

As part of the feasibility study, AKVANO® technology and cannabinoids were tested for compatibility, demonstrating that cannabinoids can be combined in the AKVANO® system as a homogeneous, uniform and stable formulation. Cannassure tested the degree of product penetration into the skin using known and accepted models and found significant penetration of active ingredients into skin tissue. This improved penetration may increase the therapeutic potential of the product. According to Cannassure, based on these results, the company will go ahead, accelerating the pace of development steps and conducting more advanced testing. Cannassure will implement the technology for the development and commercialization of sprayable medicinal cannabis products based on AKVANO®.

The common goal is to introduce innovative topical treatments to the fast-growing global market for medical cannabis products.

"We are very pleased with the positive outcome of the feasibility study, which confirms our previous high hopes. The result is an important milestone for Lipidor and for our unique formulation platform, showing that cannabinoids can be incorporated into AKVANO®. The collaboration with our partner Cannassure represents significant commercial potential for Lipidor," says Ola Holmlund, CEO of Lipidor AB.

"We look forward to continued successful cooperation with Cannassure in the field of medical cannabis."

This disclosure contains information that Lipidor is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-09-2020 08:00 CET.

For more information, please contact
Ola Holmlund, CEO
Phone: +46 72 50 70 369
E-mail: ola.holmlund@lipidor.se

Certified Adviser
Corpura Fondkommission AB
Telephone: +46 76 85 32 822
E-mail: ca@corpura.se

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https://news.cision.com/lipidor/r/lipidor-announces-positive-outcome-of-feasibility-study-for-development-of-topical-medical-cannabis-,c3205231

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https://mb.cision.com/Main/17081/3205231/1312574.pdf

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