Pharmaceutical Business review

PuraMed enters into distribution deal with FastFunds for migraine relief drug

The five-year distribution deal gives FastFunds exclusive distribution rights in the marijuana market segment in the US.

The marijuana market segment includes all 50 states, but only applies to legally permitted medical marijuana dispensaries, recreational marijuana retail stores, online retailers who sell primarily marijuana and hemp products and accessories, and other establishments with the primary business of selling medical and/or recreational marijuana and related accessories.

FastFunds Financial chairman and CEO Henry Fong said: "PuraMed’s MigraPure H migraine product is a good fit with our company’s mission to fund early-stage cannabis projects.

"We look forward to a productive and profitable relationship for both companies as the product is launched and more are developed."

The MigraPure H product will be marketed by FastFunds through its 49% equity ownership in WMII and their accessibility to a database of 1,000 medical and recreational marijuana dispensaries in Colorado, Washington State and California.

PuraMed CEO Russell Mitchell said: "The agreement gives people access to our products in more than 1,000 dispensaries and other distribution venues throughout Colorado, Washington State, and California.

"We will be selling MigraPure H, our hemp-based headache formulation at these venues. We hope to have the product on shelves early in 2015.

According to preliminary data from domestic studies, cannabinoids relieve anxiety, post-traumatic stress disorder (PTSD) and epilepsy symptoms.