Signs License Agreement for Exclusive Rights Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) ("PreveCeutical" or the "Company"), is pleased to announce that it has signed a license agreement with UniQuest Pty Ltd. ("UniQuest") giving PreveCeutical exclusive rights to UniQuest's Sol-Gel ("Sol-Gel License") technology for the delivery of cannabinoids.
The licence agreement provides PreveCeutical with the right to use the technology to deliver cannabinoids to all regions and membranes of the body in addition to intranasal delivery.
UniQuest's Sol-Gel technology includes the patent application AU2020903065 titled "Sol-gel composition".
Per the licence agreement, PreveCeutical will make an upfront payment, milestone payments, and royalty payments, with a minimum annual amount payable, based on net revenues relating to cannabinoid products utilizing the Sol-Gel technology.
Having the license agreement in place, PreveCeutical will work with partners to commercialize products for the cannabinoid-based Sol-Gel formulation products with all methods of delivery, including nasal and other regions and membrane of the body enabled by the license obtained from UniQuest.
Mr. Stephen Van Deventer, PreveCeutical Chairman and CEO, commented, "This is a very exciting time for PreveCeutical. We have been developing the cannabinoid in the Sol-Gel delivery system with the University of Queensland since 2017, with a focus on nasal delivery. Having the license agreement in place, we can now work with partners to commercialize products for the cannabinoid Sol-Gel formulation products in the form of a nasal spray. Through the strength of our working relationship with UniQuest, we are delighted to finalize the terms of the licence allowing PreveCeutical to use its cannabinoid Sol-Gel formulation technology to develop other products such as transdermal delivery of cannabinoids."
Although PreveCeutical believes that any such intentions, plans, estimates, beliefs, and expectations in this news release are reasonable, there can be no assurance that any such intentions, plans, beliefs, and expectations will prove to be accurate or successful.
About PreveCeutical
PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. The Company aims to be a leader in the preventive health sciences sector.
With the completion of three of its research programs, the Company is actively working on the development, clinical trials, and commercialization of its products; and has filed a number of provisional patent applications to protect the intellectual property from its research programs.
For more information about PreveCeutical, please visit our website www.PreveCeutical.com or follow us on Twitter and Facebook.
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