Argent Biopharma and Auscann have joined forces in a deal designed to “accelerate cannabinoid-based pharmaceutical development”.
Under a heads of agreement, Auscann will licence Argent’s CannEpil drug and dossier for non-epilepsy conditions, while Argent will gain access to Neuvis, Auscann’s self-emulsifying hard-shell capsule, along with its pharmacokinetic and pharmacodynamic data.
Announcing the move to the ASX, Argent said the collaboration will “leverage each company’s proprietary datasets and regulatory expertise to streamline regulatory submissions and enhance market readiness”.
A joint steering committee will be formed to coordinate research and development efforts and to “optimise regulatory strategies”.
The development is the first to emerge from Auscann since it was delisted from the Australian Securities Exchange (ASX) last year.
Argent chairman Roby Zomer said: “This strategic agreement with Auscann is a major validation of the value we’ve created through years of investment in the CannEpil program.”
The licensing for non-epilepsy indications will unlock new revenue streams “while maintaining the integrity of our epilepsy portfolio”, he added.
