AusCann Group Holdings (ASX: AC8) has expanded its agreement with European Cannabis Corporation (ECC), that will now see AusCann sell and distribute EU GMP certified medicinal cannabis in Australia and New Zealand.
Expanding on the term sheet signed by the two companies and announced to the ASX on 29 April 2022, AusCann becomes the exclusive agent for ECC’s HAPA products in AU/NZ. This includes a diverse cannabinoid product portfolio of raw flower and standardised full spectrum extracts. ECC manufactures all medicinal products under German EU GMP licensed conditions.
ECC will also provide AusCann with all necessary regulatory support for the products supplied, including documentation required to satisfy compliance with Therapeutic Goods (Standard for Medicinal Cannabis) (TGO 93) Order 201.
ECC is an Australian unlisted public company with established networks in the global medical cannabis sector. It owns 100% of HAPA Pharm GmbH in Germany, which is rapidly building a vertically integrated business where it has activities across the spectrum from cultivation, manufacturing and distribution of its German EU GMP medical products (both CBD and THC). HAPA also conducts medical outreach/education programmes to physicians and patients as well as certain clinical trial activities.
The expanded agreement is aimed to exploit opportunities of mutual interest to both companies, as AusCann grants ECC the exclusive licence to its self-emulsifying drug delivery technology (SEDDS), in its current form, for Europe. This will allow ECC to develop a standardised dosage form of cannabis products for commercialisation in Germany.
All intellectual property rights in any developments or products derived by ECC from the SEDDS technology will vest in AusCann immediately on creation, provided ECC is granted a non-exclusive licence to use the developments or products. Under the collaboration AusCann has agreed to validate and scale up its SEDDS technology process, before providing ECC with master validation documentation.
If as a result of the collaboration or co-operation between the companies any new intellectual property is developed, it will be owned jointly by the parties and will vest jointly immediately upon creation.
Having explored mutual opportunities with ECC since the binding term sheet announced in April 2022, we’re pleased to announce this agreement which expands on the relationship between the two parties,” AusCann’s Non-Executive Director, Robert Clifford, said.
“We absolutely see this as a mutually beneficial move for each company, allowing opportunity for AusCann to market and sell ECC’s HAPA products to patients and customers in need in the across Australia and New Zealand, while providing ECC with a technology that has the ability to significantly improve delivery of its cannabis products.”
