PHOENIX, November 10, 2020 — PRESS RELEASE — TILT Holdings Inc., a provider of business solutions to the global cannabis industry, has announced an expansion of the partnership between its wholly-owned inhalation technology subsidiary, Jupiter Research, LLC, and Israeli-based Kanabo Research Ltd., a researcher and developer of cannabis and CBD-derived medical cannabis solutions and inhalation devices.
Jupiter and Kanabo previously collaborated to obtain medical device registration for Jupiter’s flagship product, the Liquid9 (L-9), currently approved for use in hospitals and clinical trials in Israel. The L-9 is undergoing rigorous testing for safety, accuracy and durability so that new generations of the device are able to meet the requirements to obtain a CE marking for a medically certified inhalation device. Under the terms of the expanded partnership, the two parties will seek to develop a new, medically certified inhalation device specifically designed to meet the directives outlined in the European Union (EU) Medical Devices Regulation (MDR) in 2021. Kanabo will become the exclusive distributor of the medical platform in the EU and work closely with medical cannabis pharmacies to bring the platform to millions of patients.
“The European cannabis and CBD marketplace is well-positioned for significant growth over the next five years,” said Mark Scatterday, CEO of TILT and founder of Jupiter. “Our partnership with Kanabo will enable us to set a new standard for medically certified inhalation devices that will give us a competitive advantage. As the global cannabis and CBD marketplace matures, we believe other markets around the world will likely follow the same rigorous standard set by the EU. By leveraging our team of experts at Jupiter, along with Kanabo’s R&D expertise and firsthand knowledge of the EU’s regulatory requirements, we plan to bring to market one of the first medically certified inhalation devices in the world. Our partnership will also enable us to drive value for our shareholders while unlocking growth in emerging markets like the UK and Germany, where consumer demand is already gaining momentum.”
“Our goal is to usher in a new standard in inhalation devices that offers patients and consumers a more convenient, consistent delivery system that meets the EU’s rigorous medical device standards,” said Avihu Tamir, CEO of Kanabo. “With eyes set on the growth in Germany, the largest cannabis market in Europe, we will capitalize on the power of Jupiter’s engineering team and our regulatory and R&D expertise in the inhalation space, to deliver a first-of-its-kind medically certified inhalation device that enables us to sell medical cannabis extracts for inhalation across the EU and elsewhere.”