NanoSphere Signs Definitive Licensing Agreement with Delta 9 Cannabis Inc.
January 24, 2019 (Source) — NanoSphere Health Sciences Inc. (CSE: NSHS) (OTC: NSHSF) is pleased to announce the Company has signed a Definitive Master Licensing Agreement (the Agreement) with Delta 9 Cannabis Inc. (TSXV: NINE) (OTC: VRNDF) (Delta 9) in a deal that opens the Canadian market to NanoSphere’s patented groundbreaking delivery technology.
NanoSphere’s wholly-owned, Canadian-based subsidiary, NanoSphere Cannabis International Inc. (NCI).helped facilitate the agreement and assisted Delta 9 with the first product submission to Health Canada which has now received preliminary approval.
Recently awarded U.S. Patent No. 10,028,919, NanoSphere has been granted market exclusivity over the standardized delivery of cannabis through phospholipid nanoparticle technology. The new patent granted last year complements NanoSphere’s previously issued patent, U.S. Patent No. 9,925,149, covering the core technology behind the production of the NanoSphere Delivery System™.
The Agreement grants Delta 9 an exclusive Master License to manufacture and sell products made with Nanosphere’s patented technology. The two companies have begun working on the first product for Canada; an intraoral cannabis oil under the Company’s Evolve Formulas brand containing cannabinoid nanoparticles, that is being produced over the next month for an upcoming inspection for final approval by Health Canada.
“This partnership with Delta 9 represents an ongoing phase of growth for NanoSphere Health” said Robert Sutton, Chairman and CEO of NanoSphere Health Sciences. “We are proud to offer the first and only patented cannabinoid delivery system for a safer, more effective method of consumption to the Canadian market.”
“This agreement with Delta 9 marks a critical inflection point in NanoSphere’s development, allowing our entry into the world’s most developed cannabis market,” said NCI President Gary Symons.“
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NanoSphere’s groundbreaking delivery system works by nano-encapsulating active ingredients in phospholipid membranes for transportation through the skin and mucosa into the bloodstream within minutes. Cannabis applications of the technology into intraoral products will provide rapid results, precise dosages and high bioavailability. This cutting-edge advancement eliminates the need for inhalation or ingestion of cannabis, offering users a safer and more effective method of consumption.
Delta 9 CEO John Arbuthnot says the agreement paves the way for an entirely new form of consumption for both medical and recreational consumers of cannabis.
“On the recreational side, we can now provide a healthier alternative to smoking or vaping cannabis, but that still gives you the same or better effect,” said Arbuthnot. “Equally important, our NanoSphere products provide for the first time a truly appropriate way to deliver medical cannabis, with precise dosage, better bio-availability, and without essentially having to ‘smoke your medicine’.”
Under the agreement, Delta 9 will pay to NanoSphere a Licensing Fee of $500,000 Cdn. while NanoSphere will equip the production lab and train Delta 9 staff in the production of the Evolve Formulas product line. Delta 9 and NanoSphere will each receive 50 percent of the gross profit from the sale of Evolve Formulas products. The initial term of the agreement is 36 months following the date of the first commercial sale of licensed products.
NanoSphere’s Commitment to Licensing IP
NanoSphere launched its IP licensing program in 2015 and is entertaining several licensing opportunities via a rigorous evaluation process. For more information about NanoSphere’s licensing program, please visit: https://www.nanospherehealth.com/licensing/
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in the creation of the NanoSphere Delivery System™, a revolutionary platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. For more information on NanoSphere, please visit http://www.nanospherehealth.com.
About Evolve Formulas
Evolve Formulas is the provider of the world’s first and only scientifically proven nanoparticle delivery system in cannabis. Evolve’s pioneering product, Transdermal NanoSerum™, is a fast-acting, ultra-strength transdermal formula infused with nano-encapsulated cannabis and cannabis extracts. NanoSerum™ immediately penetrates the skin to deliver direct-focused results and intelligently carries a full spectrum of cannabinoids and phytochemicals to receptors throughout the body for systemic healing. For more information on Evolve Formulas, visit https://www.evolveformulas.com/. Follow us on Facebook, Instagram and Twitter.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement Caution
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company’s intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company’s future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Without limitation, these include assumptions, risks and uncertainties inherent in completing sub-licensing arrangements in the United States, Canada and abroad, product demand, production, competition and government regulation of the Cannabis industry, any and all of which may have an adverse effect on the Company’s expansion plans, sales, revenues and its financial results and condition.Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.
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