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Production of oral thin strips to begin in 2019 at Aphria
LEAMINGTON, ON, Nov. 5, 2018 /CNW/ – Aphria Inc. (“Aphria” or the “Company“) (TSX: APHA and NYSE: APHA) today announced it has established an agreement with Rapid Dose Therapeutics Inc. (“RDT“) that grants the Company with exclusive global preferred rights to license, manufacture, distribute and sell RDT’s QuickStrip™ innovative, proprietary delivery technology for both medical and adult-use cannabis market.
The Company intends to begin production of oral thin strips at its production facilities in Leamington, Ontario in 2019.
“Aphria is excited to revolutionize the way patients and consumers integrate cannabis into their lives and to bring QuickStrip™ technology – a product unlike any other – to the cannabis market,” said Jakob Ripshtein, President of Aphria. “This agreement with RDT further demonstrates Aphria’s commitment to bringing advanced products and innovations that will fit the needs of every consumer. Further, the QuickStrip™ technology will help ease concerns surrounding consumption by providing a product that delivers a consistent and precise dosage form.”
RDT’s proprietary QuickStrip™ technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system that offers a smoke-free choice to consumers.
Aphria is a shareholder of RDT, having acquired 7,200,000 shares in a non-brokered private placement completed in August 2018 at a price of $0.75 per share for total gross proceeds of $5,400,000, representing approximately a 9.7% interest in the company.
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