Zelira Therapeutics has expanded into New Zealand via an exclusive agreement with Nubu Pharmaceuticals to distribute its cannabinoid-based medicines.
The deal enables Zelira to market its Zenivol chronic insomnia treatment and Hope, for people with autism spectrum disorder.
The five-year agreement includes the supply of finished dosages of Zenivol and Hope from Australia to New Zealand distributed under the Zelira brand, with minimum order quantities of more than A$2.6 million ($178,000 in year one).
Zelira managing director Dr Oludare Odumosu said: “Our partnership agreement with Nubu aligns to Zelira’s global expansion strategy across our Rx (pharmaceutical) portfolio.
“Zelira’s entry into the highly-regulated New Zealand medicinal cannabis market is further testament to Zelira’s world-class pharmaceutical manufacturing and commitment to producing the highest quality, evidence-based cannabinoid medicines.”
Nubu will be filing for formal registration with the New Zealand ministry of health for both products.
CEO Mark Dye added: “Although there is no shortage of interest in medicinal cannabis here in New Zealand, there is a lack of data.
“Prescribers especially are calling out for clinical evidence so as they can prescribe with confidence, and the arrival of Hope and Zenivol (along with the associated research) will be a welcome addition to the medicinal cannabis landscape.”