Emyria (ASX:EMD) has entered into a binding Term Sheet (Agreement) with Aspen Pharmacare Australia to license and commercialise EMD-RX5.
EMD-RX5 is Emyria’s first, Ultra-Pure CBD capsule targeting TGA registration as an over-the-counter (OTC) treatment for mild stress and anxiety symptoms for patients with a chronic health condition.
EMD-RX5 is currently in Phase 3 clinical trials. It is a solid capsule form of medication.
Aspen has a comprehensive portfolio of over 140 brands of both prescription and over-the-counter medicines. It also has around 80 sales and marketing heads to support the successful commercialisation of EMD-RX5.
Aspen will provide funding and resources to support the development and regulatory approvals for EMD-RX5 in Australia. It will have the exclusive right to market, sell and distribute EMD-RX5 in Australia.
Aspen’s CEO Trevor Ziman said, “Aspen aims to be leaders in every product category we operate in. We are excited to continue this tradition by partnering with Emyria and supporting the registration and commercialisation of their unique product with large potential in the Australian market. We look forward to a long and successful partnership.”
Emyria managing director Dr Michael Winlo added, “Emyria expects to become one of the first companies to register a CBD product for the rapidly emerging Australian OTC market, thanks to our innovative product and registration strategy.
“We are excited to collaborate with Aspen, one of Australia’s largest and most successful pharmaceutical companies with an impressive track record in sales, marketing, manufacturing, and distribution.
“Aspen’s extensive sales force is unique in that it can reach both pharmacies and prescribing doctors, which will be instrumental in ensuring that Emyria’s product has strong brand awareness and gains widespread adoption after registration.”
