Argent Biopharma and Auscann have entered into a partnership aimed at speeding up the development of cannabinoid-based pharmaceuticals.
Under the heads of agreement, Auscann will license Argent's CannEpil drug and its associated dossier for use in non-epilepsy conditions. In return, Argent will gain access to Neuvis — Auscann's self-emulsifying hard-shell capsule technology — as well as its pharmacokinetic and pharmacodynamic data.
In an ASX announcement, Argent said the collaboration would draw on each company's proprietary datasets and regulatory expertise to improve regulatory submissions and strengthen market readiness.
The two companies will also establish a joint steering committee to coordinate research and development activity and refine regulatory strategies.
The agreement is the first major development to come from Auscann since the company was removed from the Australian Securities Exchange (ASX) last year.
Argent chairman Roby Zomer said: "This strategic agreement with Auscann is a major validation of the value we've created through years of investment in the CannEpil program."
He added that licensing the drug for non-epilepsy indications would open up new revenue streams "while maintaining the integrity of our epilepsy portfolio".
