Clinically validated cannabis medicines specialist Zelira Therapeutics Ltd (ASX:ZLD) has entered into a binding licensing agreement with Alternative Solutions LLC, a licensed grower, manufacturer and distributor of medical cannabis products in the District of Columbia (Washington DC) to manufacture and distribute Zelira’s HOPE products.
Under the terms of the licensing agreement, Zelira will receive an upfront fee and ongoing royalties from HOPE product sales in Washington DC.
Dr Oludare Odumosu, CEO and Managing Director USA for Zelira, said Washington DC has reciprocity with 32 other states in the USA with approved medical cannabis programmes. This expands access to patients registered in all the 32 states as they can legally purchase medical cannabis products at an approved dispensary in Washington DC.
Zelira previously licensed HOPE in Pennsylvania to Ilera Healthcare LLC which holds the license for that State and in Louisiana to Advanced Biomedics LLC. Zelira remains focussed on expanding the distribution of HOPETM through licensing agreements in each approved market across the USA next year, as the COVID- 19 pandemic gets under control.
Our partnership with Alternative Solution, a leader in the Washington DC market, is a strategic move in line with our mission of working with market leaders in approved markets to expand access to HOPETM across the USA,” Dr Odumosu said.
“We are particularly excited about this partnership because Washington DC is a gateway state with over 24 million visitors passing though the US capital in a year. Washington DC’s reciprocity is a strategic move that allows approved patients from 32 states to legally access HOPETM in DC.”