RISE Research and Constance Therapeutics Announce Comprehensive Strategic Partnership
Toronto, Ontario--(Newsfile Corp. - January 30, 2018) - RISE Research Inc. ("RISE") and Luminor Medical Technologies Inc. (CSE: LMT) ("Luminor") are pleased to announce RISE's comprehensive strategic partnership with Constance Therapeutics ("CT"), an established San Francisco-based developer and manufacturer of premium medical cannabis extract products for physician and patient use in California.
The partnership includes a distribution agreement that will see RISE build and manage a retail sales and distribution channel for both CT and RISE products in the California market. RISE will deploy a direct sales team in the state to sign top-tier dispensaries, augmented by a personalized support program for customers and patients to be delivered at the store level. RISE expects to create a network of at least 240 premium store locations in California within the next 12 months.
Leveraging its pharmaceutical grade product, know-how, and intellectual property ("IP") assets, combined with RISE's patent pending formulation, CT will produce a product line of sexual health and wellness products under license for RISE, to be sold in California. The product line will be developed at CT's San Francisco lab and manufacturing headquarters and will be available in California retail channels in April 2018. Following the initial rollout, RISE plans to expand product sales to other U.S. states, as well as European markets.
"Validated science will be at the core of our product development," said Anton Mattadeen, CEO of RISE. "Constance Therapeutics is a leader in creating cannabis-based extracts for use by physicians and patients. Their highly-controlled, patented extraction and formulation processes make them the ideal partner for RISE, as we are committed to evolving our intellectual property into tested and evaluated consumer products. This relationship with CT not only adds a strong foundation to support our entry into the California market, it also aligns us with one of the most trusted voices in the space. The value that Constance Finley brings to our partnership substantially advances our market position."
"This partnership strengthens both companies at a critical juncture in the industry," said Constance Finley, CEO and founder of Constance Therapeutics. "My company has led the industry in evidence-based medicinal cannabis products for a decade now, and with the rapid expansion occurring in the California market, we recognize the need for strategic partners that support one another while allowing each company to focus even more on its core competencies. CT's new R&D and manufacturing lab in San Francisco will enable us to produce at a much greater capacity, while RISE is developing a comprehensive retail distribution and online marketing program that will give access to more patients clamoring for our products. I'm thrilled to be forging ahead with RISE as we secure a dominant position in this market."
Update on Luminor's Acquisition of RISE Research
On January 15, 2018, Luminor announced it had executed an agreement to acquire RISE. RISE shareholders have approved the acquisition and Luminor and RISE plan to close the transaction in the coming days.
About RISE Research Inc.
RISE Research Inc. is a private British Columbia Corporation that develops cutting-edge hemp and cannabis consumer products for the both medical and adult-use consumer market sectors.
About Constance Therapeutics
Constance Therapeutics is a vertically-integrated medicinal cannabis company producing standardized, science-based whole-plant cannabis extracts. These extracts fill the gap between traditional pharmaceuticals and commonplace cannabis products, providing much needed additional treatment options for physicians and their patients. Constance Therapeutics' extracts are derived from fully trimmed, female, unfertilized cannabis flowers of plants with known genetics using certified organic, pharmaceutical-grade ethanol via a highly-controlled, quantitatively-defined and patented process based on solid scientific and engineering principles. Extracts are systematically third-party tested and routinely cross-tested in the industry's most respected laboratories. Since 2008, the company has employed stringent, science-based processes and standards to ensure the highest quality and consistency. Headquartered in San Francisco, CA, Constance Therapeutics' cannabis extracts have historically been available exclusively for therapeutic use by registered California patients under Proposition 215 and California Senate Bill 420. With the new California regulations, in addition to continuing to serve their physician referred medical patients, Constance Therapeutics will distribute their products throughout the state for sale in licensed dispensaries. Additionally, Constance Therapeutics is underway with globally licensing their patented formulations for sale in legal markets across the world. For further information, visit www.constancetherapeutics.com.
About Luminor Medical Technologies
Luminor Medical Technologies operates through two wholly owned subsidiaries: Scout Assessment Corp. and Jamaica BLU Limited. Scout Assessment Corp.'s key product is the Scout DS®, a device that has been regulatory cleared in certain markets as a non-invasive clinical tool to assist in the identification of both pre- and Type II diabetes. Jamaica BLU Limited holds the exclusive Canadian license for all current and future cannabis commercial products developed by RISE Research Inc. Currently, RISE Research's portfolio consists of cannabis-based formulations to support adult sexual health and wellness.
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