The University of Queensland’s commercial arm UniQuest has entered into a licence agreement with Canadian health and wellness company PreveCeutical Medical, granting rights to its Sol-Gel technology for the delivery of cannabinoids.
The arrangement grants PreveCeutical the right to use the technology, developed at UQ’s School of Pharmacy by Dr Harendra Parekh and his team, to specifically deliver cannabinoids to all regions and membranes of the body, including intranasally. It also includes a licence to IP rights covered by a patent application.
Sol-Gel is a liquid solution at room temperature which converts to a gel upon contact with the human body due to the increase in temperature.
PreveCeutical chairman and CEO Stephen Van Deventer said the firm was developing an intranasal spray as its lead product and would look at other product formats to deliver cannabinoids using the Sol-Gel technology, including via the skin.
UniQuest CEO Dr Dean Moss added the deal was a result of the long-term and ongoing relationship between the companies and built on PreveCeutical’s early commitment to develop the UQ Sol-Gel technology for the nasal delivery of cannabinoids.
He said: “This deal is a great testament to the strength and willingness of UQ researchers to engage with industry and work together to create impact through the development of potential new treatments.”