Symtomax are at the forefront to offer cheaper production, providing products at the certification grade Europe requires. With current demand outstripping supply in the European Union, it’s easy to see why Symtomax are confident about how they have positioned themselves. Symtomax’s vision and strategic direction is evident in the recently announced partnership. In May of this year Symtomax and Greater Cannabis Company a publicly traded biopharmaceutical, based out of Baltimore, with a focus on the development and commercialisation of cannabinoid delivery systems, signed a joint agreement giving rights to use their tested patented delivery products & distribution throughout Europe, Middle East and Africa.
With concern growing over vaping and the numerous incidents now being reported, Symtomax’s new oral patch, provides a safe alternative delivery platform that can be utilised to deliver cannabinoids directly into the body without the harmful side effects of smoking or vaping, and with quicker onset and greater bioavailability than ingestibles.
This new Innovative delivery system using a bio-adhesive, adjustable dose, and fully dissolvable, non-irritant patch, provides for a needle free, intra-oral systemic drug delivery.
Paul Segal, Chairman said: “Our focus has always been on providing safe, accessible, alternative medicines, with patients and consumers demanding safer routes of administration, while achieving proper potency and higher bioavailability, we believe we can now meet this need as well as the expectations.”
Symtomax have established sales and distribution arrangements to supply their cannabinoid-containing products through major pharmaceutical distribution channels throughout Portugal and the European Union (EU). The conveyance technology is designed to accelerate and enhance the delivery and bioavailability of medicines and cannabis actives when compared to traditional methods of enteral administration
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September 24, 2018 - News Release
THIS EXCLUSIVE LICENSE AGREEMENT (this “Agreement”) is made and entered into as of June 21, 2018 (the “Effective Date”), by and between Pharmedica Ltd. an Israeli company (“Pharmedica”), and Green C Corporation a company incorporated under the laws of Canada with its principal place of business at 1 Whitehorse Road, Unit 16, Toronto, Ontario M3J 3G8 (“Licensee”). Pharmedica and Licensee each may be referred to herein individually as a “Party,” or collectively as the “Parties”.
Green C Corporation: 1 Whitehorse Road, Unit 16, Toronto, Ontario M3J 3G8
Tel: 416-661-0728; Attn: Elisha Kalfa; E-mail: firstname.lastname@example.org
Pharmedica: 9 Andre Saharov, Matam, Building #25, Haifa 508409, Tel: +(972) 04 8342155; Fax: +(972) 04 8341233 Attn: Dr. Yoram Rubin, CEO E-mail email@example.com
with a copy (which shall not constitute notice) to: Tulchinsky Stern Marciano Cohen Levitski & Co., 4 Berkowitz Street, Museum Tower, 12th Floor, Tel-Aviv 6423806, Fax: +972-3-607-5050, Attn: Adv. Alon Tabak Aviram; Email: firstname.lastname@example.org.
Annex B – Patent(s)/Patent Application(s)
1. WO 2012/104834 A1
New oral dissolving films for insulin administration, for treating diabetes.
filed on December 2011. National Phase at Israel and the USA.
2. WO 2010/135053 A2
Dual and single layer dosage forms.
Issued USA patent on April 28, 2015.
3. PCT/IL 2017/050845
Adhesive Oral dissolved Films in Managing Oral Care.
PCT on 31 July 2017.
Annex C – Diligence Milestones
Licensee is required to meet the following development/regulatory/commercialization milestones in order to retain the license:
|?||Successful completion of the development of product samples by the end of year 1, provided there are no delays which are under the control of Licensee, its Affiliates or Subcontractors and any such delays not under their control will be deemed to extend such period, commensurate with such delay.|
|?||Successful completion of product scale-up and receipt of regulatory marketing approval by the end of year 3, provided there are no delays which are under the control of Licensee, its Affiliates or Subcontractors and any such delays not under their control will be deemed to extend such period, commensurate with such delay.|
|?||First commercial sale by the end of year 3 in any of the following territories: US, Canada, Japan, western Europe, provided there are no delays which are under the control of Licensee, its Affiliates or Subcontractors and any such delays not under their control will be deemed to extend such period, commensurate with such delay.|
|?||$50,000 in annual sales each year from years 5-9|
|?||$100,000 in annual sales each year from year 10 onwards|
As a condition to the closing of the Exchange Transaction, effective July 31, 2018, the Board of Directors of the Company (the “Board”) appointed Aitan Zacharin as Director and Chief Executive Officer of the Company and Mark Radom as chief legal officer of the Company.
Mark Radom previously held the positions President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary of Graphite Corp. Although there was no arrangement or understanding between Mark Radom and any other person(s) pursuant to which he was selected as chief legal officer of the Company, the Selling Shareholders decided on their own initiative to offer Mr. Radom the position of chief legal officer. Mark Radom has no family relationships with any director or executive officer of the Company, or persons nominated or chosen by the Company to become directors or executive officers. Furthermore, the Company is not aware of any transaction involving Mark Radom requiring disclosure under Item 404(a) of Regulation S-K, except for the Exchange Transaction.
The Board believes that Mr. Radom’s extensive experience in business development, management of complex projects and legal services in connection therewith will be invaluable in achieving the Company’s goals.
Mr. Zacharin is an experienced executive with a broad knowledge in building and managing technology and consumer products businesses. In 2012, he co-founded Fuse Science, an innovative biotechnology company headquartered in Miami, Florida and Oxnard, California. Mr. Zacharin was responsible for the development and growth of the business from a seed stage R&D company to a publicly traded CPG and biotech business with multiple subsidiaries. During his tenure he was tasked with expanding the biotechnology IP portfolio, spearheading multiple in vitro studies, and growing the consumer products business. In scaling the company, Mr. Zacharin identified and hired executive talent to lead the commercialization strategy including the past President of SC Johnson Company and previous CEO of Champs and Footlocker Sports. He successfully led the company to raise over $10M in three over-subscribed rounds, as well as negotiated contracts with 26 world renowned athlete and celebrity brand ambassadors, which included top ranked pro golfer Tiger Woods. Under Mr. Zacharin’s leadership the company developed and commercialized multi-category consumer products through a retail footprint of 15,000 doors. Since his exit from Fuse Science, he has been advising and investing in mid to late stage technology startups, and assisting them with capitalization, business strategy and development, and accelerating growth. Mr. Zacharin holds dual degrees from the University of South Florida in Tampa Bay. He resides in Baltimore, Maryland, and maintains various board appointments both professionally and philanthropically.
From August 2015 to July 2018, Mr. Radom served as chief executive officer of Graphite Corp. From February 2010 through July 2015, Mr. Radom served as the chief carbon officer and general counsel of Blue Sphere Corporation. From 2009 through 2010, Mr. Radom was managing director of Carbon MPV Limited, a Cyprus company focused on developing renewable energy and carbon credit projects. From 2007 to 2009, Mr. Radom was general counsel and chief operating officer of Carbon Markets Global Limited, a London-based carbon credit and renewable energy project developer. Mr. Radom has extensive experience in business development in the renewable energy and carbon credit sectors. He has sourced over U.S. $100,000,000 in renewable energy, industrial gas and carbon credit projects and managed many complex aspects of their implementation. He was legal counsel for a number of carbon and ecological project developers and was responsible for structuring joint ventures and advising on developing projects through the CDM/JI registration cycle and emission reduction purchase agreements under the auspices of the Kyoto Protocol. Prior to this, he worked on Wall Street and in the City of London as a US securities and capital markets lawyer where he represented sovereigns, global investment banks and fortune 500 companies across a broad range of capital raising and corporate transactions. He is a graduate of Duke University and Brooklyn Law School. Mr. Radom is admitted to practice law in New York and New Jersey and speaks fluent Russ
(d) Appointment of Directors
As a condition to the closing of the Exchange Transaction, effective July 31, 2018, the Board appointed Aitan Zacharin as a director of the Company. Mr. Zacharin does not have any family relationships with any other executive officers or directors of the Company, or persons nominated or chosen by the Company to become directors or executive officers. There is no arrangement or understanding pursuant to which Mr. Zacharin was appointed as a member of the Board. Furthermore, the Company is not aware of any transaction requiring disclosure under Item 404(a) of Regulation S-K, except for the Exchange Transaction. It is contemplated that Mr. Zacharin may serve on certain committees of the Board, but no such committee appointments have been made at this time.
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