iX Biopharma, through its wholly-owned subsidiary iX Syrinx, has entered into an agreement with medicinal cannabis company Organic Genetics Group to supply its novel sublingual medicinal cannabis wafers in New Zealand.
The agreement will allow iX Biopharma to access New Zealand’s pharmaceutical market through Organic Genetics Group’s commercial partnership with its shareholder, ANZ Pharma.
ANZ Pharma is a reseller of leading pharmaceutical, health and beauty care products with a distribution network of 1,108 pharmacies.
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Organic Genetics Group will also leverage on ANZ Pharma’s partnership with Tamaki Health Group, which is New Zealand’s largest independent primary healthcare group with over 50 clinics and 400,000 enrolled patients, and additional links to over 400 primary care doctors.
Under the agreement, Organic Genetics Group will secure the requisite approvals from the Medicinal Cannabis Agency under New Zealand’s Ministry of Health and other relevant authorities.
The wafers will be supplied once the approvals are in place.
The agreement comes soon after iX Biopharma’s shipment of Xativa to Brazil after the product’s inclusion in the Australian Register of Therapeutic Goods (ARTG) list of drugs approved for export.
Shares in iX Biopharma closed flat at 23 cents on July 26.
Photo: Bloomberg
