Burlington, Ontario--(Newsfile Corp. - January 28, 2025) - Rapid Dose Therapeutics Corp. (CSE: DOSE) (RDT), a Canadian biotechnology company working with an international company in oral nicotine products, is pleased to announce the expansion of their collaboration through the continuation of the exclusive pre-commercialization agreement. This agreement aims to finalize the development of innovative, market-ready products projected for launch in 2025. The pre-commercialization agreement requires RDT to provide project management and product development services in exchange for a monthly fee of USD$120,000 to June 19, 2025. RDT respects the right of the company to remain anonymous until a commercial agreement is signed.
Building on a relationship that began in December 2022, this final phase of collaboration underscores the commitment of both companies to deliver innovative solutions that meet evolving consumer needs. Enhancing and optimizing the formulation and packaging, completing consumer studies, benchmarking against current products, and preparing documentation for regulators are the key elements to be finalized by June 19, 2025.
RDT, renowned for its proprietary QuickStrip™ delivery system, has been working closely with this international company, who has created and marketed FDA approved smoke-free alternatives, to develop novel products designed to enhance user experiences.
"This expanded collaboration is an important strategic opportunity for RDT," said Mark Upsdell, CEO of Rapid Dose Therapeutics. "We prioritize research and development and are proud to partner with this future-focused company. We are committed to playing a leadership role in leveraging science and our unique QuickStrip™ Oral Thin Film (OTF) technology to develop next-generation products that are tailored to global market demands."
RDT is focused on delivering breakthrough innovations that align with the vision of a smoke-free future. Through this pre-commercialization agreement, the two companies are set to combine their respective expertise in consumer behavior, product development, and market research to ensure the products are positioned for success.
"This agreement reinforces our dedication to providing consumers with science-based alternatives to smoking," stated Mark Upsdell. "We look forward to finalizing the development of these unique products and bringing them to market in 2025, contributing to our broader goal of transitioning adult smokers to safer alternatives."
The products developed under this collaboration are expected to leverage RDT's fast-acting oral delivery system combined with consumer insights and extensive global reach. The joint efforts are aimed at delivering innovative products that meet the highest standards of quality and safety.
As both companies work towards completing the pre-commercialization milestones in early 2025, as well as the anticipated formal commercial agreement, they are committed to maintaining the highest level of scientific rigor in the product development process, ensuring that these new offerings are both safe and effective for adult consumers worldwide.
About Rapid Dose Therapeutics Corp.
Rapid Dose Therapeutics Corp. (RDT) is a Canadian biotechnology company focused on innovative drug delivery solutions. Its flagship product, QuickStrip™, is a proprietary oral thin film that delivers active ingredients quickly and efficiently, offering fast-acting benefits to consumers in a variety of sectors. For more information about the Company, visit www.rapid-dose.com.
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as "intend", "may", "should", "anticipate", "expect", "potential", "believe", "intend", "will", "could", "are planned to", "are expected to" or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-Looking statements necessarily involve known and unknown risks, including, without limitation, the ability of RDT to work together with its international collaborator in the nicotine segment, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
