Medipharm Labs Corp (OTCMKTS: MEDIF) has spoken about its newly-formed partnership with McMaster University. The two parties want to engage in the development of drugs that contain cannabis candidates. This company has, over the years, operated as a manufacturer of cannabis API and derivative products.
The essence of the new collaboration
MediPharm Labs have a lot to gain from the new partnership, according to analysts. For example, it is an excellent opportunity to collaborate with McMaster University’s massive and diversified roster of clinicians. According to the analysts, such collaboration is what it takes to achieve massive cannabis research and drug development success.
The terms of the deal
The terms of the deal provide the various responsibilities MediPharm Labs will be tasked with moving forward. For instance. MediPharm Labs will sign a separate Statement of Work with every single clinician group. It is a rather transformative period as MediPharm Labs considers how it will take advantage of its Cannabis Drug Licence to ensure the delivery of top-notch clinical trial material that will guarantee patients Good Manufacturing Practice (GMP). It will also be about meeting the various pharmaceutical quality standards and the conformity to investigative protocol. Seeking out regulatory approval also happens to be a part of the plan in the latest deal.
The President and Interim CEO of MediPharm Labs, Keith Strachan, opines, “As a pharmaceutical company specialized in cannabis, MediPharm Labs is excited to participate in the development of drugs containing cannabis. This will further our initiative to fulfill the global need for pharmaceutically approved drugs containing cannabis.”
Strachan believes that it is such a great honor for them to get the opportunity to collaborate with an outstanding partner like McMaster University. He is quick to refer to it as a global leader in medical cannabis research. He looks forward to great times ahead as they prepare to make special announcements regarding specific projects under the Agreement.
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