Pharmaceutical company, AusCann (ASX:AC8) has signed a non-binding Memorandum of Understanding with Canadian listed medical cannabis company Khiron Life Sciences (TSXV: KHRN).
The MoU contemplates a collaboration through which AusCann's Chilean joint venture, DayaCann and Khiron can offer new alternatives of medical cannabis to patients in Chile, in addition to those currently provided.
To achieve this the parties will engage in cultivation, manufacturing and other activities that present cannaboid medicines as a viable medical option that meet the highest standards of quality and safety.
Dayacann is the only company in Chile to hold a medical cannabis production license. AusCann and Fundacion Daya formed Dayacann in 2016.
Khiron has its core activities in Colombia and aims to address the unmet medical needs in a market of over 620 million people in Latin America.
Shares in AusCann (ASX:AC8) 2.01 per cent higher at $1.02.