Rapid Dose Therapeutics Announces Commercialization of QuickStrip™ Oral Thin Strips
Licensee, Chemesis International Inc., begins efforts for distribution of QuickStrip™ across United States & Puerto Rico
BURLINGTON, ON, June 13, 2019 /CNW/ - Rapid Dose Therapeutics Corp. ("RDT" or the "Company") (CSE: DOSE), a Canadian life sciences company focused on innovative drug and active ingredient delivery solutions, announces that Chemesis International Inc. (CSE:CSI), a Licensee, has begun commercialization of QuickStrip™Oral Thin Strips. Chemesis will deliver CBD infused strips across the United States as well as THC and CBD infused strips in Puerto Rico.
Chemesis' subsidiary, Natural Ventures, operates a facility with the infrastructure required to manufacture, package and distribute QuickStrip™ Oral Thin Strips. Chemesis will distribute QuickStrip™ through Natural Ventures distribution network and existing relationships in Puerto Rico.
As the Company continues to expand its manufacturing, Chemesis will look to add additional infrastructure for its QuickStrip™ Oral Thin Strips in California. In anticipation of federally changing CBD regulations, Chemesis has begun signing distribution agreements in the mainland United States for CBD infused QuickStrip™ products to ensure the Company maintains a first mover advantage by forming distribution channels and partnerships that will gain market share. The RDT proprietary drug delivery technology is infused with CBD, THC and other cannabinoids.
The Rapid Dose Therapeutics proprietary QuickStrip™ delivery system is a true sublingual delivery device for THC, CBD and other cannabinoids. Furthermore, QuickStrip™ is conducting controlled trials to further demonstrate QuickStrip™ effectiveness and consistent onset. Chemesis believes this technology is at the forefront of sublingual delivery systems and will expand its efforts to bring it to market.
"Through our Managed Strip Services Agreement (MSSA), Rapid Dose is focused and committed to providing consumers in the United States and Puerto Rico cannabis markets a Smoke‐Free Choice™," said Mark Upsdell, CEO of Rapid Dose. "RDT's agreement with Chemesis will enable them to manufacture and sell under both their own private brand and as part of our white label program. Our brand partnership with Chemesis further strengthens and positions QuickStrip™ for rapid growth as an international brand and delivery device to cannabis consumers while delivering health and improving outcomes. With the QuickStrip™ discreet and measured dosing, Chemesis is well positioned to bring a unique and exciting product offering to Puerto Rico and U.S. markets and we are thrilled to be an integral part of their growth."
About Rapid Dose Therapeutics
Rapid Dose Therapeutics Corp. is a publicly-traded Canadian life sciences company that provides innovative, proprietary drug delivery technologies designed to improve outcomes and quality of lives. RDT offers Quick, Convenient, Precise and Discreet™ choices to consumers. RDT is focused and committed to clinical research and product development for the healthcare manufacturing industry, including nutraceutical, pharmaceutical and cannabis industries. Within the cannabis sector, RDT provides a turn-key Managed Strip Service Program which enables RDT's QuickStrip™ proprietary drug delivery technology to be licensed by select partners. RDT's service based annuity contracts drive recurring revenue which enables rapid expansion into emerging markets — generating value for consumers and shareholders. Rapid Dose Therapeutics is committed to continually create innovative solutions aimed at multiple consumer segments and future market needs — including humans, animals and plants.
For more information, visit: www.rapid-dose.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward- looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of products using the QuickStrip™ product delivery method, express, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT as to future events or results and are believed to be reasonable based on information currently available to them. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Rapid Dose Therapeutics Corp.