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Aurora Cannabis Inc. (NYSE:ACB) and CTT Pharmaceutical Holdings (OTC:CTTH) announced Tuesday the launch of a new product line of cannabinoid-infused sublingual wafers.
The new line has been launched under the brand name “Dissolve Strips” and is the first of its kind, the company said.
Aurora owns around 9% of CTT, and holds a warrant that can allow it to raise its stake to 42.5%. CTT has also provided Aurora with access to its patent-protected technology for sublingual wafers drug delivery.
Orally dissolvable thin film wafers offer easier drug delivery that doesn’t require water or swallowing, and are also praised for fast absorption, bypassing the liver's first-pass effect.
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"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," Terry Booth, CEO of Aurora, said in a statement.
"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.”
Aurora's stock closed Monday’s session at $4.11 per share.
