Avivagen Inc. (VIV:TSX.V) announced in a news release it is exploring partnerships or other collaborations with cannabis producers to co-develop products that combine its proprietary OxC-beta technology with cannabis for the companion animal and other markets.
This decision comes after the multiple, large cannabis producers have expressed to Avivagen an interest in merging their expertise to create new offerings. "Avivagen has conducted a preliminary business analysis and believes that there are various combinations which could result in attractive product profiles, including based on distinct mechanisms of action between cannabis-based products and Avivagen's OxC-beta," the release noted.
Potentially, OxC-beta could be paired with hemp, cannabinoids, synthetic products, oils and extracts, and other cannabidiol- and tetrahydrocannabinol-based products.
Avivagen will only seek partners that are operating legally in their jurisdiction and have the requisite cannabis licensing.
"We are enthusiastic about working with leading edge cannabis companies and participating in their development of a line of products which incorporate our unique OxC-beta™ technology," says Kym Anthony, chairman and interim CEO of Avivagen. "We have been vocal advocates for the benefits of new product categories and look forward to collaborating with these large, well-resourced and innovative companies to bring these innovative products to the worldwide market, where appropriate."
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