Validated cannabinoid-based medicines developer ZeliraTherapeutics Ltd (ASX:ZLD) is entering the New Zealand market via a five-year exclusive distribution agreement with NUBU Pharmaceuticals,. This distribution agreement with New Zealand’s largest medicinal cannabis distribution company expands the availability of Zenivol, Zelira’sclinically validated cannabinoid-based insomnia medication, beyond Australia and Germany, and HOPE1 beyond Australia and the United States, into the highly regulated and tightly held New Zealand market.
NUBU will be filing for formal New Zealand government registration with the Ministry of Health NZ for both Zenivoland HOPE1.
Our partnership agreement with NUBU aligns to Zelira’sglobal expansion strategy across our Rx (Pharmaceutical) portfolio,” Zelira Therapeutics Managing Director, Dr Oludare Odumosu, said.
“We are delighted to be partnering with NUBU, New Zealand’s largest medicinal cannabis distribution company, with existing strategic partnerships already in place with many of New Zealand’s largest pharmacy groups.
“Zelira’s entry into the highly-regulated New Zealand medicinal cannabis market is further testament of Zelira’sworld class pharmaceutical manufacturing and commitment to producing the highest quality, evidence-based cannabinoid medicines.”
NUBU CEO, Mark Dye, said while there is no shortage of interest in medicinal cannabis 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 welcome addition to the medicinal cannabis landscape.”
Key terms of the distribution agreement include: