The Hydroponics Company (ASX:THC) announced a partnership with Phoenix Life Sciences to research, develop, manufacture, distribute and sell medical cannabis in Australia and internationally.
As quoted in the press release:
The agreement will allow Phoenix to develop its brand products, formulations, packaging knowledge, and product delivery methodologies, while enabling THC to establish an effective route to deliver medicinal cannabis products into Australia. Phoenix is currently building production facilities to export cannabidiol products in North America and through this partnership agreement with THC, these products will also be available in Australia.
Commenting on the collaboration agreement, THC’s Chairman Alan Beasley, said: “We are very pleased to have executed a strategic alliance agreement with a major international healthcare company that produces high quality pharmaceutical-grade medicinal cannabis solutions. This partnership will rapidly accelerate the development of THC’s supply chain for importing medicinal cannabis products in Australia, through Canndeo, and significantly expands our capabilities to advance intellectual property and research and development into cannabis delivery systems.”