Zelira Therapeutics Ltd (ASX:ZLD) has launched a new product – ITURA – Advanced Relief Cream Formula through its partnership with Cardiovascular Solutions of Central Mississippi (CVSCM).
ITURA is an advanced relief cream formula using CBD and Hemp Spectra Technology that targets multi-symptoms such as numbness and tingling, muscle cramps, insensitivities and neuropathies including pain associated with Peripheral Artery Disease and diabetes.
Zelira Therapeutics is a global leader in the research, development and commercialisation of clinically validated cannabis medicines.
The launch of ITURA is a significant milestone as we continue to deliver on our product development, commercialisation, and licensing strategy,” Zelira Therapeutics Managing Director, Dr Oludare Odumosu, said.
“Together with our partner CVSCM we are enhancing people’s lives by providing a novel relief formula for a largely unmet therapeutic area of need that has substantial market potential in the USA and globally.”
In America, diabetes is a public health crisis, costing $326 billion dollars annually according to the American Diabetes Association. By 2050, it is projected that 1 in 3 Americans will have diabetes according to a recent analysis from the Centers for Disease Control.
The initial purchase order of 10,000 units has been manufactured and paid for by CVSCM. In accordance with the licensing agreement, Zelira received an upfront payment on executing the license agreement and upon the completion of ITURA development and will receive ongoing royalties on the commercialisation of ITURA now available for sale online in the USA at www.iturarelief.com.
CVSCM has exclusive marketing rights to the USA market and Zelira retains rights for all other markets, ex-USA.
“CVSCM has been committed to solution-focused partnerships and collaborations. Our partnership with Zelira Therapeutics has led to ITURA, a proprietary novel therapeutic option for patients whose lives and livelihoods have been upended by pain. These people no longer have to suffer,” CVSCM CEO, Dr Foluso Fakorede, said.
“The relief ITURA provides to individuals with chronic debilitating conditions has proven to be effective, tolerable and affordable. We are excited to bring this innovation in care to them and look forward to its tremendous impact in improving their lives.”