Canadian medical cannabis company Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) and Vectura Fertin Pharma, Inc., an innovator in wellness and healthcare, announced on Monday the launch of the newly developed Luo CBD lozenge.
What Happened
The product was developed by Vectura Fertin Pharma, and represents the company's first medical cannabis CBD lozenge to be introduced in Canada.
The move follows the announced commercial collaboration between Vectura Fertin Pharma's subsidiary Cogent International and the Edmonton, Alberta-based company to leverage Aurora's Canadian medical cannabis patient platform.
Cogent manufactures, packages and labels the CBG lozenge, a novel dissolvable format and is easy to dose.
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Why It Matters
Through Aurora's patient platform, Cogent will gain access to patient feedback on the CBD lozenge, which will be used to validate the product proposition and build real-world patient data to inform future products.
"As the leading provider of medical cannabis in Canada, the launch of the newly developed Luo CBD lozenge on our platform is a significant and exciting milestone at the beginning of our strategic collaboration with Vectura Fertin Pharma," said Aurora CEO Miguel Martin. "We are committed to bringing innovative solutions to patients and this launch reinforces our position at the forefront of Canada's medical cannabis industry."
What's Next
The two companies are open to exploring opportunities regarding the potential commercialization of other Vectura Fertin Pharma medical cannabis products in Canada.
ACB Price Action
Aurora's shares traded 2.96% higher at $5.57 per share during the pre-market session on Monday morning.
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