Israeli medical cannabis company Cannassure announced on Tuesday that they will be developing a topical cannabis spray to treat a variety of inflammatory skin conditions, along with Swedish Pharmaceutical company Lipidor, which specializes in dermatology.
The companies signed a development agreement together after successfully completing the feasibility stage in the process of developing an over-the-counter (OTC) topical spray for the treatment of inflammatory skin conditions such as atopic dermatitis, psoriasis, pain and lesions.
In addition to the development deal, Cannassure will now have the exclusive right to use Lipidor's innovative AKVANO® topical spray technology.
According to Cannassure's estimates, the combined treatment market for all of these chronic illnesses and symptoms could be worth over $50 billion by 2027.
The feasibility study looked at different models to see whether Cannassure's cannabinoids were compatible with Lipidor's topical drug delivery spray technology.
Cannassure said that it has proven that the cannabinoids can be well combined into the AKVANO system, into a homogeneous, uniform and stable formulation.
Cannassure CEO Ran Amir stated that the company looked forward to the joint development process, saying that "The AKVANO non-touch application paired with an excellent uptake of active substance in different skin layers opens up the door for new high-potential treatments with great patient benefits."
After the OTC topical spray, Amir said that Cannassure plans to expand to also developing prescription-based pharmaceutical products, adding that they have seen "significant interest from distributors."
Ola Holmlund, CEO of Lipidor AB, was "delighted" about the licensing agreement and emphasized the importance of the feasibility study's results.
“This is an important milestone and an external validation of our unique formulation platform, showing that cannabinoids can also be well incorporated into AKVANO," Holmlund said.
"Cannassure’s advanced production facility, development resources and distribution relationships for medical cannabis are of a high standard," Holmlund said, adding that "We have great faith in Cannassure as well as high expectations on the partnership with the aim to commercialize the new drugs as soon as possible.”