New Zealand-based Aether Pacific Pharmaceuticals has signed a distribution agreement with Melbourne firm Novachem to supply more than 200kg of dried medicinal cannabis flower into the Australian market.
Previously operating under the name Medical Kiwi, Aether Pacific will export the flower from its Christchurch facility, packaged in 10-gram jars and sold under the Medical Kiwi brand. The arrangement also opens the door to white-labelling for other sponsor groups operating in Australia.
The finished GMP-grade product will be stored and sponsored by Novachem, which will then distribute it to patients through its existing network.
The company said the agreement would give it "another near-term revenue stream" and broaden its presence in the growing Australian medicinal cannabis sector.
Novachem business development manager Andrew Heath said: "It is fantastic to be able to continue to support Medical Kiwi in bringing New Zealand-grown product to market in Australia. We are certain [it] will have great support from the medical community."
Aether Pacific chairman Aldo Miccio said the agreement comes at a "pivotal time in the company's growth trajectory" ahead of its planned listing on New Zealand's Catalist Public Market.
The company is currently offering wholesale investors two million new fully paid ordinary shares at NZ$1 per share, aiming to raise NZ$2 million.
