ApeT BV is the firm behind the patented FLOTEX‐C system, where active ingredients are delivered in a time released manner via a capsule that 'floats' within the stomach.
READ: Canafarma Hemp Products says record producer who has worked with Snoop Dogg and Jason Deroulo will spearhead the firm's media efforts
The pair will develop novel hemp-based cannabinoid, drug, and nutritional supplement delivery methods through the technology.
"We are delighted to be working with APeT on something so important to the industry, and our initial focus will be on anti-viral, immune boosting and anti-aging formulations to further develop the company's consumer product brands," said David Lonsdale, CEO of Canafarma in a statement.
Many patients suffer side effects from medication or a lack of efficacy, added to which there are compliance challenges such as too many pills spread over different hours of intake per day that can lead to people skipping, or forgetting to take the right amount of medication at the right time, said the company.
Canafarma Hemp Products is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market.
Shares were boosted over 6% in Toronto to C$0.51 each on the day.
---Updates for share price---
Contact the author at firstname.lastname@example.org