Airware Labs Corporation has entered into a non-binding letter of intent to acquire a cannabis consulting company and grower doing business as Item 9 Labs with the goal of developing an intranasal THC product, Airware Labs Corp said. The agreement would be terminated if the two companies are unable to finalize terms by the end of the year.
All of the products currently marketed by Airware Labs Corp are nasal inserts, some of which are infused with essential oils.
Airware Labs Corp CEO Jeffrey Rassas said, “Airware Labs has been actively seeking a strategic partner in the Medical CBD and THC space to use our patented IP as a nasal delivery device allowing efficient and effective immediate delivery of cannabinoids into the body. Item 9 Labs is the perfect partner with an experienced team, we are excited to combine our companies. Airware’s current product lineup provides air filtration and nasal dilation to promote improved breathing in support of overall health.”
Item 9 Labs CEO Bryce Skalla commented, “Item 9 Labs intends to utilize the patented intellectual property of Airware Labs Corp to develop an intra-nasal THC delivery system effectively eliminating a long standing pain point in the market. By combining Airware’s technology and our industry experience, Item 9 will be able to improve the quality of life for patients and their loved ones. Item 9 Labs has made a passion out of providing innovative medicinal alternatives for chronic and terminally ill patients, through the cultivation and manufacturing of high quality medical cannabis products. We are very excited to announce the next phase of our evolution, the union of Item 9 Labs and Airware Labs Corp. Item 9 Labs has long recognized the barrier with MMJ products as being the lack of options for delivery methods.”
Read the Airware Labs Corp press release.