Neurotech has announced a strategic cultivation partnership with CannaPacific to grow and maintain genetic stock and assist in the development of elite varietal strains developed by NTI and Dolce Cann through their exclusive licensing agreement. Following successful outcome of the Phase I/II clinical trials starting this quarter, the partnership enables NTI to prepare for expanded clinical studies in larger patient groups moving into calendar Q2 and Q3 as the current trial parameters are intended to form the basis for larger future studies which will assess the efficacy of these strains in a broader patient population in respect of autism and related neurological disorders.
CannaPacific will house the genetic stock and assist in the development of NTI's exclusively licensed Dolce varietal strains within CannaPacific's Northern NSW cultivation facility. CannaPacific is licensed and permitted by the Australian Government (Office of Drug Control) to cultivate and research medicinal cannabis which is a requirement to commence sales under the TGA Special Access Scheme.
CannaPacific CEO, Joshua Dennis said "CannaPacific is delighted to work with the NTI/Dolce team to assist in providing a GMP supply chain for their unique varieties within our Northern NSW facility. We’re creating an agricultural innovation hub for companies who wish to enter the medicinal cannabis space and leverage our existing cultivation and production facility.”
Brian Leedman, Chairman of Neurotech International commented, “We have previously stated that positive results from our initial trial will pave the way for larger studies to address the unmet need for effective treatments for autism and broader neurological conditions. The partnership with CannaPacific allows NTI to ensure that we can maintain momentum with our clinical studies through quality product supply and importantly, maintain and develop our intellectual property base through our exclusive licensing of the Dolce Cann strains”.
The agreement between Neurotech and CannaPacific is for an initial period to 30 June 2021 and does not contain provision for termination prior to this date and is subject to mutual due diligence and the receipt of all relevant regulatory approvals. As part of the fees payable, CannaPacific is to be issued 1,000,000 fully paid ordinary shares in the Company upon receipt of an Office of Drug Control permit to produce NTI / Dolce cannabis strains for clinical trials, and a further 1,000,000 fully paid ordinary shares in the Company within five business days of the delivery of the first harvest of dried flower to the Company, or by 1 August 2021 whichever occurs first.
For more information: 
Neurotech
Suite 5 CPC, 145 Stirling Highway, Nedlands WA 6009, Australia
+61 (8) 9389 3130
info@neurotechinternational.com
neurotechinternational.com