Sativa Investments PLC (NEX:SATI), the UK’s first medicinal cannabis investment vehicle, has subscribed to, through a private placement which may or may not precede an IPO, 400,000 shares at C$ 0.50 per share, at a cost of C$ 0.2 million cash, in Toronto-based Pharma-Tech company, Rapid Dose Therapeutics Inc. (“RDT”).
RDT has its own patent-pending proprietary QuickStrip™ technology, a fast-dissolving strip that is placed on or under the tongue, or inside the cheek, then enters directly in to the recipient’s system, mimicking an injection path. Pharmaceuticals, emulsified oils and over-the-counter medicines are used in RDT’s proprietary RDMx mixture technology, which is sold across North America.
Geremy Thomas, founder and Chief Executive Officer of Sativa Investments, said: “RDT’s technology delivers medicinal cannabis bypassing the normal oral or inhaler delivery and, as such, is an exceptional way of ingesting the therapy, is easy to administer, provides a consistent and rapid dose, and is likely to improve patient outcomes.
“The dynamic medicinal cannabis market in Canada has allowed RDT to develop this CBD product to be absorbed directly in to a person’s system.”
Mark Upsdell, Chief Executive Officer of Rapid Dose Therapeutics, said: “Our proprietary formulation for the mixture of various medicines and pharmaceuticals to be administered through our QuickStrip™ technology, has led to RDT using CBD medicinal cannabis in QuickStrip™.
“We are delighted to have entered in to this new relationship with Sativa. RDT looks forward working together with Sativa in this fast developing market to unlock the potential for our products in the UK and Europe.”