DENVER, CO--(Marketwired - May 23, 2017) - Phoenix Life Sciences is pleased to announce that it has signed a strategic alliance agreement with Australia-based medicinal cannabis company Canndeo Ltd (100%-owned subsidiary of The Hydroponics Company ASX:THC) to cooperatively research, develop, manufacture, distribute and sell medicinal cannabis products in Australia and internationally.
The agreement will allow Phoenix Life to develop products, formulations, packaging knowledge base, product delivery methodologies, marketing support and brand management in collaboration with Canndeo, while enabling Canndeo to establish an effective route to deliver medicinal cannabis products into Australia. Phoenix is currently building production facilities to export cannabidiol products in North America and through its alliance with Canndeo, these medicinal cannabis products will also be available in Australia.
Commenting on the alliance agreement, Phoenix Life Sciences' Chief Executive Officer, James Baumgartner, said: "We are delighted to be partnering with Canndeo for research, development, manufacturing, distribution, sales and other initiatives in Australia. This partnership will allow Phoenix Life to expand distribution of medicinal cannabis products and jointly deliver medicinal cannabis products into the emerging Australian market and internationally. We see Canndeo as a strong partner in our worldwide expansion."
Dr Andrew Beehag, Chief Executive Officer of Canndeo Limited, said: "This collaboration is a major step forward for Canndeo as a leading supplier of medicinal cannabis products in Australia. Our international partnership with Phoenix Life, a highly regarded, major US-based pharmaceutical company will bring a number of strategic benefits, and help Canndeo to accelerate our roll-out strategy in Australia."
Phoenix Life Sciences, Inc. is a disruptive healthcare solutions company.
By combining new and existing research with state of the art production, Phoenix Life Sciences plans to distribute products around the globe that are designed to target and treat the following seven major categories of medical conditions: pain, cancer, anxiety, autoimmune, metabolic, neurological, and sleep disorders. These categories include conditions that affect hundreds of millions of patients worldwide.
Phoenix Life Sciences intends to build an integrated healthcare organization by creating products and programs that use emerging biological products, such as cannabinoids and other plant extracts. Phoenix Life Sciences delivers these programs through managed agriculture, pharmaceutical production and physician education and distribution networks.
Canndeo is a 100%-owned subsidiary of The Hydroponics Company, focused on the development and delivery of pharmaceutical grade medicinal cannabis for the Australian market. Leveraging unique IP and over 17 years' experience in the breeding and growth of cannabis, Canndeo aims to be a world leader in the development of therapeutically superior, paramount quality and cost effective medicinal cannabis. Canndeo partners with leading international organisations in the medicinal cannabis space, bringing the latest developments in medicinal cannabis delivery technology.
Information contained in this press release regarding Phoenix Life Sciences, Inc. (the "Company") may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to the Company herein are expressly qualified in their entirety by the above-mentioned cautionary statement. The Company disclaims any obligation to update forward-looking statements contained in this press release, except as may be required by law.