Up Cannabis, a subsidiary of Newstrike Brands Ltd. (TSX-V: HIP), has signed a cannabis supply agreement with ZYUS Life Sciences.
Under the agreement, Up Cannabis will supply dried bulk cannabis to ZYUS as raw material for processing into its cannabinoid-based products. ZYUS expects to receive licensing under the Cannabis Act and the Controlled Drugs and Substances Act in the first half of 2019.
“Providing access to a consistent supply of high-quality medical cannabis products for both patients and their healthcare providers in the domestic and international market is what will set ZYUS apart in today’s fast-growing medical cannabis market,” ZYUS President and CEO Brent Zettl said in a statement.
“The signing of this initial supply agreement with an experienced licensed producer, will put into action our comprehensive raw material grading system and is a critical step to effectively produce GMP-compliant, targeted, cannabinoid-based phyto-therapeutic products. A significant amount of this initial supply will be used for our clinical trial program,” Zettl added.
ZYUS is a globally-focused biopharmaceutical company that offers patients cannabinoid and other phyto-therapeutic medical solutions. The company will deliver oils, capsules, topical creams and other therapeutic formulations to patients worldwide.