18:39:38 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-10-07 C$ 5.50
Market Cap C$ 5,612,080,601
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Aurora Cannabis, CTT begin selling CBD wafers

2019-10-08 07:34 ET - News Release

Mr. Terry Booth reports

AURORA CANNABIS AND CTT PHARMACEUTICAL ANNOUNCE LAUNCH OF SUBLINGUAL CANNABIS WAFERS

Aurora Cannabis Inc. and CTT Pharmaceutical Holdings Inc. have successfully commercialized CTT's cannabinoid-infused sublingual wafers. The new cannabis product line, a first of its kind, has been launched by Aurora in the Canadian medical cannabis market under the brand name Dissolve Strips.

Aurora has an ownership interest in CTT of approximately 9 per cent, with a warrant allowing it to increase its stake to 42.5 per cent, and access to CTT's sublingual wafers drug delivery technology, which is patent protected or patent pending in multiple jurisdictions.

"Aurora's Dissolve Strips provide unique advantages over other ingestible products due to their ease of administration, discrete nature and accurate dosage, that provides more rapid bioavailability of cannabinoids via sublingual use," said Terry Booth, chief executive officer of Aurora. "This adds yet another innovative offering to our growing portfolio of high-quality medical products that we offer our patient base, and is testament to our industry-leading ability to work with technology partners and regulators to bring new form factors to market rapidly."

CTT's CEO Cam Birge added: "The product launch with Aurora of the Dissolve Strips is a major milestone for us that marks the transition of CTT from a technology development phase to a revenue generating phase. This is the culmination of years of hard work by our founder Dr. Modi and the entire CTT and Aurora product development teams. We are very proud of this co-achievement and congratulate Aurora for the considerable efforts and product enhancements to bring Dissolve Strips to the cannabis market. Our sights, however, are set much higher. The next stage in our development will be the launch of a broader portfolio of unique products on a global scale. We have been working towards this, and I look forward to reporting on our progress in the coming quarters."

Orally dissolvable thin film (ODF) wafers are a proprietary drug delivery mechanism in the form of paper-thin polymer films used as carriers for pharmaceutical agents that have the following benefits:

  • ODF wafer is taken orally but does not require water or swallowing.
  • ODF wafers dissolve quickly in the oral cavity (five to 15 seconds), with the active ingredient rapidly absorbed and diffused for direct access to the bloodstream.
  • The active ingredient, once absorbed, can bypass the liver's first-pass effect, improving therapeutic outcomes and efficacy through improved bioavailability, and facilitates excellent patient compliance.
  • ODF wafers are suitable for a wide range of patients, including geriatric and pediatric patients who experience difficulty swallowing.

About Aurora Cannabis Inc.

Headquartered in Edmonton, Alta., Canada, with financed capacity in excess of 625,000 kilograms per annum and sales and operations in 25 countries across five continents, Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.

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