Aprhia Inc (CVE:APHA) (NYSE:APHA) is building on its previous agreement with Rapid Dose Therapeutics Inc (CSE:DOSE) to bring RDT’s QuickStrip delivery technology to the German cannabis market.
"Germany is one of the most sought-after cannabis markets today, and Aphria continues to take a comprehensive approach to ensure a leading presence in the country as the opportunity evolves," said Jakob Ripshtein, president of Aphria, in the company’s press release.
Shares of Aphria jumped more than 4% to US$5.65 in Tuesday pre-market trading while Rapid Dose Therapeutics shares have not yet begun trading.
The companies inked an agreement in November, granting Aphria exclusive global preferred rights to license, manufacture, distribute and sell the technology.
RDT’s QuickStrip technology delivers cannabis via oral fast-dissolving strips, offering a smoke-free alternative to cannabis consumers.
Aphria expects to produce and distribute CBD-only Quickstrips to the German market by spring 2019.
As per the agreement, Aphria has the option to tack on future international markets.
Contact Lenore Fedow at [email protected]