Wilmington-based Noramco to partner on cannabinoids
Teewinot Life Sciences and Noramco, a producer of controlled-substance pharmaceutical ingredients signed a letter of intent to enter the commercial cannabinoids market using proprietary technology.
Cannabinoids are chemicals that are derived from marijuana flowers or other sources.
Noramco is based in Wilmington. It was sold last year to a private equity firm by Johnson & Johnson.
The agreement provides Noramco access to Teewinot’s patented processes for producing pure cannabinoids. The letter also calls for Teewinot to provide the expertise Noramco requires to implement the technology rapidly.
“There are few sources for large quantities of cannabinoid-based reference materials, other than plant extraction,” said Jeffrey M. Korentur, CEO of Teewinot Life Sciences. In partnering with Noramco, a company with an exemplary record of producing high-purity controlled substances on a commercial scale, the pharmaceutical industry is afforded a robust supply chain for reference standards.”
Noramco will create 10 to 15 cannabinoid reference standards with CannSynthesis biocatalytic technology and simultaneously evaluate it for the production of dronabinol on a commercial scale.
One drug, Dronabinol is known for its effectiveness in pain management, as an antiemetic, in the control of vomiting, as an appetite stimulant in the treatment of AIDS and for reducing the side effects of chemotherapy.
“Combining Teewinot’s CannSynthesis technology with Noramco’s controlled substance manufacture and distribution expertise allows us to serve a fast emerging market space,” said James Mish, CEO of Noramco. “The letter of intent acknowledges the strengths each company brings to the market and serves as the first step toward a partnership in cannabinoids.”
Headquartered in Tampa, FL, Teewinot manufactures and licenses technology to make cost-effective and pharmaceutically pure cannabinoids.
Noramco is , is a leading North American producer of controlled substances for the pharmaceutical industry. The company offers controlled substance APIs designated for use in attention deficit disorder, pain management, addiction management and abuse deterrence products.
Established in 1979, Noramco maintains production and R&D facilities in Delaware and Georgia; and Neuhausen, Switzerland; and accesses agricultural operations in Tasmania through an affiliate, Tasmanian Alkaloids.
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