Univo To Develop Cannabis Inhaler Formulation For Sanara Ventures' Veoli
Israel-based Univo announced a development agreement with Sanara Ventures' company Veoli to develop the formulation for a new cannabis inhaler.
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Under the terms of the partnership, Univo and Veoli will develop a unique, formula-based inhaler aimed to ease access to medical cannabis for THE elderly and children, allowing for accurate consumption of medical cannabis that is unattainable through smoking. Univo will exclusively produce potentiators and cartridges for the inhaler.
Why It's Important
Veoli is a medical device company, and its main technology is based on a unique nebulizer device that is able to convert liquid into isolated micron-sized drops that can be absorbed into the patient's lungs, thus allowing them to consume medical cannabis by inhaling a precise dosage without heating, evaporation or burning.
Veoli is backed by Sanara Ventures, an investment platform that is backed by Teva Pharmaceutical Industries Ltd (NYSE:TEVA) and Philips.
As the only country in the Middle East that legalized medical marijuana and has recently allowed exports, Israel is positioned to become a regional cannabis power.
Univo focuses on R&D and has an advanced in-house lab and a team of cultivators, biochemists and agricultural engineers. The company is working on developing a sophisticated Good Agricultural Practice greenhouse and a Good Manufacturing Practice facility that will be cultivating a variety of cannabis strains.
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