Zelda Therapeutics (ASX:ZLD) has entered into a strategic manufacturing and distribution agreement with Knop Laboratories.
The company said the agreement forms an important part of it Chilean activities and locks in a high quality supply of its formulated medicinal-cannabis medicines initially, for its planned clinical trials, and subsequently a secure, scalable and GMP-grade source of commercial quantities following product registration.
Knop operates a chain of pharmacies throughout Chile.
"This agreement contemplates Knop becoming a key distribution channel for Zelda registered medicines following completion of its clinical trials in insomnia, eczema and the recently announced expansion into autism," said Zelda in a statement.
"Knop Laboratories are recognized as a signature trusted brand in Chile, dating back to the 1920’s when its founder Reinaldo Knop, a pioneer in Chile in the research and development of homeopathic and phytotherapeutic medicine started manufacturing his own products for prescription medicines, which soon grew into a state of the art manufacturing establishment known as Knop Laboratories (1930’s)."
It continued, "Knop’s related companies include a pharmacy chain which spans across Chile. This organisational structure makes Knop an ideal partner for the manufacture of Zelda’s products, providing access to a large distribution network to fast track market penetration in South America."
Zelda said it has chosen to expand its research programme into Chile because the country’s legal framework recognises the importance of medical cannabis, allowing its production under strict regulatory controls for the treatment of medical conditions.
"This partnership will not only expedite the clinical trial process, with the certainty of product supply, but it will potentially allow the mass production of Zelda’s medicines for the treatment of eczema, insomnia and autism, providing a natural alternative to many patients who suffer from these conditions," said Zelda.
According to Harry Karelis, executive chairman fo Zelda, “We are delighted to be entering into this partnership with Knop who have an impressive history in Chile and extensive relationships with key regulators. They operate a world-class facility with a newly commissioned ethanol-extraction facility dedicated to producing high quality cannabis-derived extracts. We have been in close discussions with Knop for some time and are excited to be working together. The partnership provides a very solid platform to rapidly expand the company’s activities and an important element of our focus on rapid commercialisation.”