Sundial Growers (NASDAQ:SNDL) and Crescita Therapeutics (TSX:CTX,OTC:CRRTF) announced an agreement on Monday (October 28) that gives Sundial the rights to Crescita’s skin delivery technologies to develop a line of topical products with cannabis and hemp.
As quoted in the press release:
The partnership combines Crescita’s leading expertise in dermal sciences and in the development of patented topical formulations with Sundial’s cannabis production, extraction and commercialization expertise. The Agreement will enable the development of unique, high-quality cannabis and hemp topicals for the Canadian and international non-prescription markets.
“Partnering with a world-class dermatology company like Crescita is a significant step for Sundial as we continue to stay on top of consumer trends in the cannabis industry and prepare for expanded global reach,” said Brian Harriman, COO of Sundial. “This partnership is a key component of our international CBD strategy across Canada, Europe, the United States and future jurisdictions, allowing us to provide effective and safe branded products based on differentiated intellectual property (“IP”) that consumers can trust.”