The University of Queensland has struck a deal with Canadian health and wellness company PreveCeutical Medical that could revolutionize the way patients consume medical cannabis.
Invented at the UQ School of Pharmacy by Dr. Harendra Parekh and his team, Sol-Gel technology is a liquid solution that turns into a gel on contact with the internal membranes of the human body, such as the nose.
UQ’s marketing company, UniQuest, has granted PreveCeutical the rights to use the Sol-Gel technology for the specific delivery of cannabinoids to all regions and membranes of the human body.
The agreement concluded by UniQuest includes a license for the patent application.
UniQuest CEO Dr Dean Moss said the deal is the result of the long-term and ongoing relationship between UniQuest and PreveCeutical, and builds on PreveCeutical’s early commitment to develop UQ Sol technology. -Gel for nasal cannabinoid administration.
“This agreement is a testament to the strength and willingness of UQ researchers to engage with industry and work together to create impact through the development of potential new treatments,” said Dr Moss.
PreveCeutical President and CEO Stephen Van Deventer said the company will also be looking at other product formats to deliver cannabinoids using UQ’s Sol-Gel technology, including through the skin. .
“This is a very exciting time for PreveCeutical,” said Mr. Van Deventer.
“We have been developing the Sol-Gel cannabinoid delivery system with UQ via UniQuest since 2017, with a focus on nasal delivery.
“With this licensing agreement in place, we can now work with partners to commercialize products for Sol-Gel cannabinoid formulants in the form of a nasal spray.
“Due to the strength of our working relationship with UniQuest, we are delighted to finalize the terms of the license allowing PreveCeutical to use Sol-Gel cannabinoid formulation technology to develop other formats, such as administration. transdermal cannabinoids. “
Media contact: UniQuest, Brooke Baskin, [email protected]; +61 0409 767 199.