Radient Technologies Inc. Announces Master Services Agreement with Terra Life Sciences
EDMONTON, ALBERTA and CALGARY, ALBERTA–(Marketwired – Dec. 11, 2017) - Radient Technologies Inc. (“Radient” or the “Corporation”) (TSX VENTURE:RTI) announces the signing of a Master Services Agreement (the “Agreement”) to produce cannabis extracts for the Terra Life Sciences group (“Terra Life Sciences”), a private, Alberta-based pharmaceutical manufacturer whose ACMPR license is expected in the near future.
Under the terms of the Agreement, Radient will use its proprietary microwave-based extraction platform and decades of extraction expertise to deliver “Extraction as a Service” to Terra Life Sciences. From its Edmonton facility, Radient will process and refine Terra Life Sciences’ cultivated cannabis material into permitted cannabis oil products at industrial-scale throughput and high yields, while maintaining rigorous quality and product safety standards.
With its subsidiary Olds SoftGels Inc (“OSG”) and OSG’s production capacity of over 2.5 billion softgel capsules a year from two GMP-certified facilities, Terra Life Sciences is well-positioned to develop innovative, pharma-grade cannabis and CBD-based products at scale, enabled by the economic and operational advantages provided by Radient’s platform.
“We are excited to be a partner in Terra Life Sciences’ product development and value chain as they address the rapidly growing medical applications of cannabis and CBD-based products,” said Mike Cabigon, COO of Radient. “Furthermore, we anticipate a number of important synergies between the two companies as we address consumer needs.”
Dr. Anil Jain, President and CEO of Terra Life Sciences, added, “Through the use of MAP™, Radient has a proven, high value extraction system that will help bring to market a number of exciting products. It is important for us to solidify this relationship because it will provide us access to large scale extraction capacity for producing high quality pharma-grade medicine.”
About Terra Life Sciences
Terra Life Sciences is a holding company with a subsidiary operating as Olds SoftGels Inc. The Terra Life Sciences group owns and operates two pharma-grade facilities with capabilities to manufacture pharmaceuticals, over-the-counter (“OTC”) medications and premium grade nutraceuticals. Terra Life Sciences currently manufactures over 100 different products and has a manufacturing capacity of over 2.5 billion softgels per year, with access to an R&D department that includes 8 PhDs on staff. These facilities are licensed by Health Canada, inspected by US FDA and are fully GMP compliant.
Terra Life Sciences is in the final stages of securing its ACMPR license to enable the extraction of Active Pharmaceutical Ingredients from cannabis and to manufacture and sell pharma-grade doses in various delivery systems. It offers excellence in manufacturing doses in various delivery systems such as softgels, liquids, topicals, sprays and liposomes, with capabilities for quick release, sustained release and targeted release of medicine. Terra Life Sciences is focused on scientific research and collaboration, and has plans to participate in clinical trials to fully explore the potential of cannabis for patient health, and to provide evidence-based products for the comfort of health practitioners.
Radient extracts natural compounds from a range of biological materials using microwave assisted processing (“MAP™”), a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
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