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PreveCeutical licenses cannabinoid delivery technology from U of Queensland

By Jesse Schwartz
Published: November 23rd, 2021

PreveCeutical Medical Inc., a health sciences company focused on developing therapies using organic and nature identical products, has signed a license agreement with UniQuest, the tech transfer arm of the University of Queensland, to commercialize a novel technology for the delivery of cannabinoids.

The agreement provides PreveCeutical with the rights to use the “Sol-Gel” technology, developed by Queensland researchers, to create products that deliver cannabinoids to all regions and membranes of the body. The company will work with partners to commercialize those products.

Under the terms of the agreement, PreveCeutical will make an upfront payment, milestone payments and royalty payments to the university based on revenues relating to products that utilize the Sol-Gel technology.

“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,” says Stephen Van Deventer, chairman and CEO of PreveCeutical.

“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,” Van Deventer adds. “Through the strength of our working relationship with UniQuest, we are delighted to finalize the terms of the license allowing PreveCeutical to use its cannabinoid Sol-Gel formulation technology to develop other products such as transdermal delivery of cannabinoids.”

Source: newsfile

Posted under: Tech Transfer e-News

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