Inolife R&D Signs Letter of Intent With Namaste to Research the Use of Needle-Free Injection Technologies With Medical Cannabis
TORONTO, March 13, 2018 (Newswire.com) - Inolife R&D Inc. ("Inolife"), is pleased to announce today it has signed a letter of intent with Namaste Technologies Inc. ("Namaste") for trials in the use of Inolife's needle-free technologies for the dosing and administration of medical cannabis.
According to the terms of the letter of intent, Namaste will initiate the research and upon the signing of a definitive agreement, Namaste will retain the exclusive rights for the use of Inolife's needle-free technologies for the cannabis industry. Inolife's needle-free technologies offer efficient and precise dosing and administration of subcutaneous, intramuscular as well as intradermal medication. Specific dosing is one of the main impediments to adoption of medical cannabis in various therapeutic fields such as Chronic Pain, Epilepsy, Diabetes, Parkinson, Alzheimer's and Multiple Sclerosis to name a few.
The terms of the LOI also outline the investment by Namaste into Inolife's anticipated private placement as well as its go public financing. Inolife R&D Inc. has entered into a reverse merger agreement with 4Touchdowns Capital Inc., and intends to list its common shares on the Canadian Securities Exchange and change its name to Inolife Sciences.
Sean Dollinger, President and Chief Executive Officer of Namaste comments, "We are very pleased to announce this LOI and proposed partnership our intention to provide research and development of this innovative technology for applications with medical cannabis. We believe that Inolife's technology could provide the most efficient and accurate method for dosing with medical cannabis. We see a massive opportunity to revolutionize the industry by bringing this exciting technology to the medical cannabis market. We're delighted to see that industry-leading companies like Inolife are recognizing Namaste for its value in its database, platform and brand."
Michael Wright, President and Chief Executive Officer of Inolife comments, "We're very excited about the proposed partnership with Namaste. We feel that Namaste is best positioned to deliver on our strategic plan to become an innovator of delivery systems for the medical cannabis industry. We're pleased to be the first company, in partnership with Namaste, to explore needle-free device technology in the context of medical cannabis delivery. Our needle-free technologies coupled with our intellectual properties and proprietary processes is a perfect fit for medical cannabis. We look forward to working with such a visionary company and contributing to shaping the future of the medical cannabis landscape."
About Namaste Technologies Inc.
Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through 24 e-commerce sites in 20 countries and with distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in ecommerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
Chief Executive Officer
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Further information on Namaste and its products can be accessed through the links below:
About Inolife R&D Inc. / Inolife Sciences Corporation
Inolife R&D Inc. is an emerging specialty medical device company focused on developing and commercializing self-administered medical products using novel drug delivery technologies. The company was founded to take advantage of novel techniques of liquid jet and ballistics-based epidermal drug injection that we believe will improve a patient's quality of life by making medicines easier to self-administer, work better, and remove the anxiety and inconvenience associated with hypodermic needle injections.
For more information about Inolife and its products please visit www.inolifesciences.com.
President & CEO
Direct: +1 (866) 834-3777
Source: Inolife Sciences Corporation