Lipidor AB (Nasdaq First North:LIPI) today announced that the company has signed an exclusive licensing agreement with Cannassure Therapeutics Ltd. (TASE:CSURE), an Israeli company specializing in the development and manufacture of innovative medicinal cannabis products. The license agreement was drafted and negotiated by Synch´sUnder the agreement, Cannassure has the exclusive right to use Lipidor’s proprietary drug delivery technology AKVANO®in medicinal cannabis products for the treatment of selected indications such as psoriasis, atopic dermatitis, pain and lesions. Lipidor receives a royalty of 15-17.5% on future product sales. When a predetermined accumulated sales volume is achieved, Lipidor will receive an additional milestone payment in the form of 1% of the share capital value of Cannassure, up to a maximum of EUR 350,000. Lipidor’s projection is that this milestone compensation will be paid within a two-year period.
Ola Holmlund, CEO of Lipidor, says: “Lipidor is very pleased with our collaboration with Synch and the high level of legal expertise that Sara Sparring possesses. Synch/Sara has played an important role in getting this agreement together. During the negotiation process, we have received invaluable support, which has been crucial to reaching this successful agreement.”