Levitee Labs Teams Up With Canntab Therapeutics, Offer Cannabinoid Products As Alternatives To Opioids

Wellness company Levitee Labs Inc. LVT LVTTF (FSE:7H7) confirmed Monday that it has teamed up with cannabinoid company Canntab Therapeutics Limited PILL CTABF TBF. Canntab is known for developing cannabinoid and terpene blends in hard pill form for therapeutic applications available in multiple doses and timed-release combinations.

Under the deal, Levitee, where applicable, will inform customers throughout its ecosystem of specialized clinics and pharmacies in Alberta and British Columbia about Canntab products as alternative solutions for pain management, addiction and other disorders.

Levitee currently owns five addiction clinics and three specialized pharmacies which have conducted more than 35,000 patient visits in the last 12 months. The partnership is anticipated to enhance patient care and drive additional revenue.

“We share a vision with Canntab to play a meaningful role in flattening the curve of the opioid crisis in Canada by tapering use of addictive painkillers through the substitution of viable alternatives, which can include cannabinoids like CBD and THC and combination thereof,” said Noha ElSayed, B.Sc.Pharm, APA, executive director of Levitee Clinics and Levitee Pharmacies in the Alberta Region. “Notwithstanding the lack of clinical trials for product specific uses, cannabinoids have shown great promise to provide patients relief for multiple indications in which we specialize. I am eager for Canntab to begin servicing our pharmacies and clinics throughout Canada, as it will both drive additional revenue and better serve our patients.”

More recent news from Canntab:

Canntab Therapeutics Completes First Shipment Of THC Tablets To Ontario Cannabis Stores

Price Actions

Levitee Labs shares traded 3.34% lower at 22 cents per share at the time of writing Monday morning.

Photo: Courtesy of herbadea Berlin on Unsplash