TAMPA, Florida and WILMINGTON, Delaware, March 20, 2017 /PRNewswire/ -- Teewinot Life Sciences (Teewinot), the market leader in biocatalytic technologies for the production of pharmaceutical-grade cannabinoids, and Noramco, a global leading producer of controlled-substance active pharmaceutical ingredients (APIs), today signed a letter of intent to enter the commercial cannabinoids market using proprietary CannSynthesis™ technology. The agreement provides Noramco access to Teewinot's patent protected processes for producing pure cannabinoids by means of biocatalysis. The letter also stipulates that Teewinot will 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, President and 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. 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, President and 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."
About Teewinot Life Sciences
Teewinot Life Sciences is a leading global biopharmaceutical company focused on ethical cannabinoid-based drug development and biocatalytic production of pharmaceutical grade cannabinoids. Teewinot's wholly owned subsidiary, Full Spectrum Laboratories, Ltd., has developed patented processes for producing pure cannabinoids by means of biocatalysis and synthetic biology. Headquartered in Tampa, Florida, Teewinot manufactures and licenses technology to make cost-effective and pharmaceutically pure cannabinoids.
Noramco, headquartered in Wilmington, Delaware, 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 (USA); and Neuhausen, Switzerland; and accesses agricultural operations in Tasmania through an affiliate, Tasmanian Alkaloids.
Jeffrey Korentur, President/CEO
Bill Grubb, VP Global Business Development
SOURCE Teewinot Life Sciences Corporation