Zelda Therapeutics does distribution deal for Australasia and UK

Zelda Therapeutics Ltd (ASX:ZLD) has signed a distribution agreement to distribute Zelda-branded products in Australasia and the UK.

The agreement is with Health House Holdings Ltd, a UK-based specialist medicinal cannabis company that wholesales and distributes medicinal cannabis products to community and hospital pharmacies.

Products covered by the distribution agreement include the insomnia investigation formulation and also the HOPE® range of medicinal cannabis products.

Zelda is planning to launch these products in global market from early 2020.  

Increases market penetration in 2020

Zelda’s managing director Dr Richard Hopkins said: “This agreement marks another important milestone for Zelda as it prepares to bring multiple medicinal cannabis products to market in 2020.

“We’re delighted to be working with Tony Samios and his team at Health House, which has established itself as the premier independent specialist distribution company.

“We’re also excited by their ability to help expand distribution of our products into markets throughout Australasia and the United Kingdom.”

Proposed merger with Ilera Therapeutics

Zelda will acquire the HOPE® range of medicinal cannabis products as part of its proposed merger with Ilera Therapeutics.

The products were formulated for symptoms associated with autism spectrum disorder.

The intended merger will create a leading medicinal cannabis company rebranded Zelira Therapeutics.

A key priority for Zelira post-merger will be to launch HOPE® into global markets from early 2020, with the aim of generating revenues in the first half of the year.

Regarding Zelda’s insomnia formulation, it is planned to go to market in 2020 pending a positive outcome from its phase II clinical trial for which data is expected in the coming March quarter.

Story by ProactiveInvestors