Bod secures licensing and supply agreement with Arrotex

Bod Australia Limited (ASX: BOD) announced that it had signed a Licence and Supply agreement with Australia’s biggest generic pharmaceutical and private label over-the-counter medicines company Arrotex Pharmaceuticals to license and supply a unique CBD medicine designed for Australia’s Schedule 3 market. The Licence and supply agreement includes a five-year supply agreement term, which will support Bod’s growing revenue profile.

As per the agreement, Bod will advance a unique Schedule 3 CBD medicine for Arrotex, which will be wholly licensed to Arrotex for an upfront fee of $500,000. Arrotex has committed to a 5year supply agreement with Bod for the finished product. The finished product will be supplied to Arrotex following the satisfactory completion of Bod’s phase IIb clinical trial and its following receipt of regulatory approval and an ARTG registration.

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