Zelira Therapeutics Ord Shs ZLDAF

SUDA ENTERS AGREEMENT WITH AUSTRALIAN CANNABIS COMPANY ZELDA

[mrdoobee]

PERTH, AUSTRALIA Thursday 6th December 2018: SUDA Pharmaceuticals Ltd (ASX: SUD), a leader in oro-mucosal drug delivery (“SUDA”), today announces that it has entered into a fully funded feasibility and option agreement with Australian based Zelda Therapeutics Ltd. (ASX: ZLD, OTCQB: ZLDAF) (“ZELDA”), a leading company in the field of medical grade cannabis to develop an oral spray of pharmaceutical-grade cannabinoid derivatives (Agreement). SUDA had identified an opportunity in the cannabinoid field as part of its strategic intentions and included a co-development deal as part of its anticipated milestones in its Investor Presentation of 28 August 2018. Under the work plan outlined in the Agreement, SUDA will apply its proprietary OroMist® oro-mucosal spray technology to ZELDA’s pharmaceutical-grade cannabinoid derivatives, for evaluation by ZELDA. Under the terms of the Agreement Zelda will pay SUDA an option fee of $200,000 consisting of an upfront of $100,000 and a further $100,000 in downstream milestone payments. Zelda will also fund the formulation work. The 24- month option provides ZELDA with an exclusive right to extend the Agreement and to enter into a global development and licensing agreement for the oral spray formulations developed by SUDA. The Agreement intends to provide ZELDA with a wide range of therapeutic targets and also contains an exemption over a number of therapeutic areas where SUDA has ongoing discussions with other cannabis companies. ASX Release No. 961 6 December 2018 Page 2 of 3 Mr Stephen J Carter, SUDA’s CEO and Managing Director, commented: “We are delighted to be working with ZELDA in the field of medical grade cannabis (“MGC”) to assess the feasibility of formulating MGC for a wide range of conditions utilising our OroMist® and Hydrotrope platforms. We believe that our technology can offer unique advantages compared to other routes of administration which will further benefit patients seeking MGC therapy. “In our opinion, ZELDA’s strategy of developing a package of strong clinical evidence with pharmaceutical grade MGC has the potential to set ZELDA above a large number of current MGC companies and SUDA are pleased to be able to assist ZELDA by developing an MGC oral spray utilizing our technology and expertise.” Further information: STEPHEN CARTER EXECUTIVE CHAIRMAN SUDA Pharmaceuticals Ltd Tel: [phone] [e-mail]


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