NanoSphere Forms Cannabis Subsidiary in Canada

NanoSphere Cannabis International will represent the company's technology in the global market.

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November 8, 2018
Press Release
Vendor News

DENVER--(BUSINESS WIRE)--PRESS RELEASE--NanoSphere Health Sciences, Inc. is taking its cannabis business global with the formation of a wholly owned subsidiary, NanoSphere Cannabis International (NCI). 

NanoSphere developed a patented process using nanoparticles to deliver medicines, nutraceuticals and cosmeceuticals directly through the skin or the mucous membrane into the blood stream. The technology allows for more precise dosing, faster onset and better bioavailability of medicines or cannabis.

The new Vancouver-based company will be charged with the task of licensing NanoSphere’s technology in countries where medical or recreational cannabis is legal.

Gary Symons, CEO at Deep Incite Consulting and director of communications at Delta 9 Cannabis, has been named president and chief operating officer of NCI. Symons was an investigative and crime reporter for 23 years, most recently with CBC News, and then founded and ran VeriCorder Technology until it was acquired in 2012.

Symons has worked in the cannabis industry since 2012 as a financier, consultant and advisor to several cannabis companies, including Delta 9 Cannabis Inc., and also owns a boutique finance and communications firm. Symons was involved in more than $50 million in financing for the sector during that time, and has negotiated dozens of international licensing deals over his career.

NanoSphere CEO and Chairman Robert Sutton says the NCI operation is being formed to focus specifically on the global cannabis industry.

"The NCI operation is being formed in Canada to focus specifically on Canadian and Global opportunities available in the cannabis industry,” Sutton said. “Leaders in the industry from around the world look to companies in the Canadian legal market for guidance on regulations and product development. It is important that the NanoSphere delivery system be represented in these discussions to aid in our global expansion."

"The formation of NCI is partly designed to help foster the partnership between NanoSphere and Delta 9 Cannabis Inc.," added Symons. "We are working to finalize our agreements with Delta 9 to be our Canadian partner and holder of the Master License for our Cannabis Delivery System. The unique grow pod system developed by Delta 9, combined with our technology, would give both companies a means to rapidly expand into global markets with a product that no other company can match."

NCI and Delta 9 are currently preparing applications to Health Canada for a suite of products that will provide a safer and healthier way to consume cannabis, both for the medical and recreational cannabis markets.

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