FSD Pharma Inc. (CSE:HUGE) recently announced that Canntab Therapeutics (CSE:PILL) had delivered the first of its manufacturing equipment at FSD Pharma’s Cobourg plant in Ontario. According to an article by Born2Invest, Canntab will be able to produce approximately 1.5 million tablets per day once the equipment is in place.
“With this first delivery of manufacturing equipment at the Cobourg plant, we can begin the process of setting up our manufacturing space in collaboration with FSD Pharma,” said Canntab CEO Jeffrey Renwick. “We expect manufacturing of our suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets to begin in earnest.”
Canntab has a collaborative partnership and profit-sharing agreement in place with FSD Pharma. As per their agreement with Canntab, FSD Pharma has provided them with approximately 10,000 square feet of space in its Cobourg facility. In return, Canntab will provide FSD Pharma with 50 percent of the profits on any retail sales of Canntab products through FSD Pharma sales channels and on any Canntab products that FSD Pharma sells. In addition to this, Canntab will pay a 3.5 percent royalty to FSD Pharma for all Canntab products that are sold and manufactured from the Canntab premises at the FSD Pharma facility. Finally, Canntab will also be responsible for developing a line of cannabis oral dose delivery platforms and other types of cannabis-based products, such as sleep aids and pain relievers.
The article went on to feature FSD Pharma’s other partnerships and agreements with Auxly Cananbis Group Inc. (TSXV:XLY), Cannara Biotech Inc., High Tide Ventures and SciCann Therapeutics. The article also provided an update on FSD Pharma’s multi-phase construction of its Cobourg facility, which the company purchased in 2016.
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