APHRIA INC NPV (OTCMKTS:APHQF) recently entered into a dried medical cannabis supply agreement, with a subsidiary of Tetra Bio-Pharma, PhytoPain Pharma Inc. The supply would be used as an active pharmaceutical ingredient, in the development of PPP001, by PhytoPain. Aphria was awarded the contract, given its status as a licensed producer, under “Access to Cannabis for Medical Purposes Regulations”.
The PPP001 is a prescription controlled inhalation drug, which PhytoPain plans to market worldwide, once it has been fully developed. It should be noted here that Aphria would continue to be the exclusive supplier for PPP001, for the development and commercialization periods. Dr. Guy Chamberland, the CSO at PhytoPain, expressed his excitement at working with Aphria and pointed out that the development of prescription botanical based pharmaceuticals requires a high quality GMP system, which the company can deliver. The CSO also revealed that the agreement ensures that they can now file for a Clinical Trial Application, for a phase-1 trial. He also stated that PPP would soon submit a Pre-IND package for the drug, with the US FDA.
Aphria recently held its annual general meeting of shareholders as well, during which it elected Arlene Dickinson, as a new director to the board. The appointment was also accompanied by a grant of 50,000 stock options, to Ms. Dickinson, to purchase shares of the APHQF’s common stock. The options carry an exercise price of $3.7 and are valid for a period of 3-years.
It should be noted here that Ms. Dickinson is the owner and CEO of Venture Communications, a company she developed from small local business, to one of the largest independent agencies in Canada. Moreover, she also heads District Ventures and Youinc.com. Each one of her companies is aimed at helping the market to fund and grow entrepreneurial companies. Ms. Dickinson is also known for her role in Dragons Den, as a dragon for 8 seasons.
APHRIA INC NPV (OTCMKTS:APHQF) had a trade volume of 301,678, during the November 14 trading session, to reach a close at $3.84 per share. The stock recorded a surge of 11.95%, during the session.