Aurora Cannabis (TSE: ACB) has joined forces with CTT Pharmaceutical Holdings, Inc. to launch a new line of products. Cannabinoid-infused sublingual wagers offered by CTT are coming to market, with Aurora launching them in Canada under its own brand name, Dissolve Strips.
Aurora owns about 9% of CTT and has the right to increase its stake to 42.5% – if this new product line works out, that will most likely happen, given Aurora’s continuous expansion plans. Through that ownership, Aurora has access to the company’s patented (or patent-pending) technology for delivering cannabinoids through sublingual wafers.
Aurora CEO Terry Booth said in a statement about the new product line, “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. 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.”
The wagers use a proprietary system that includes a dissolvable polymer film to deliver the cannabinoids. Because of their makeup, they can easily be used by anyone at any time, without the need for water and dissolve quickly, usually in 5-15 seconds. They also have the added benefit of bypassing the liver, improving their functionality and the delivery of the full effect of the cannabinoids.
The CEO of CTT, Cam Birge, adds, “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.”