If anyone is wondering what is the link between ASTR & PREV
COPY PAST FROM STOCKHOUSE :
1. Licensing Agreement with Asterion
Under the terms of the Licensing Agreement, Asterion has granted to PreveCeutical a non-exclusive licence (with a right to sublicense in accordance with the terms of this Agreement) to use Asterion’s intellectual property to make or have made, use, distribute, sell, offer to sell and promote the Products for an inital term of five years, renewable for five consecutive one year terms. PreveCeutical will pay to Asterion a royalty equal to 20% of the gross sales from the Products sold by PreveCeutical.
2. PreveCeutical Grants Asterion Option to Purchase up to a 51% Interest in Sol-Gel Intellectual Property
PreveCeutical Medical Inc. (“PreveCeutical”)(CSE: PREV, OTCQB: PRVCF, FSE: 18H), and Asterion Cannabis Inc.(“Asterion”) announce that they have entered into an option to purchase agreement (the “Option Agreement”), whereby PreveCeutical has granted to Asterion the right and option (the “Option”) to purchase up to 51% of PreveCeutical’s right, title and interest in and to certain intellectual property rights relating to a soluble gel (“Sol-Gel”) nasal delivery system for the nose-to-brain delivery of therapeutic formulations, including cannabis and cannabinoids (the “Sol-Gel IP”).
Also, Asterion Cannabis is owned by Stephen Van Deventer, the CEO of Preveceutical.
If people are wondering why PREV sold 51% of the Intellectual Property to Asterion..
Asterion acquired 51 percent of Sol-Gel. The Australian government really likes the Sol-Gel because they would rather see patients take cannabis medicine in pill form, as a gel cap, transdermal or a nasal spray or sublingual tablet rather than smoking cannabis. With Asterion taking the major position of 51 percent ownership, now we can use the major project status to help accelerate that through the process for approvals.
And for those who don't know it yet , Preveceutical has applied for the sol-gel delivery platforms patent on december 5.
2019904601: Sol-gel composition
