BOULDER — Wana Brands, a Boulder-based provider of edible cannabis products, has signed a licensing deal to sell AltMed Enterprises’ medical products infused with marijuana in Colorado.
The deal also allows Sarasota, Fla.-based AltMed to sell Wanna Brands’ medical edibles in Arizona.
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Financial terms of the licensing agreement were not disclosed.
Wana Brands’ entry into the Arizona market will be through a licensing deal between its affiliate, Mountain High Infused Products LLC, and AltMed Arizona, an affiliate of AltMed Enterprises. A licensing agreement between NuTrae LLC doing business as MüV — a subsidiary of AltMed Enterprises — and Wana Brands opens the door to MüV products becoming available in Colorado.
The products are expected to be available during the fourth quarter of this year.
“Medicinals are an important sector for Wana Brands, and we have seen the difference that products like WanaCapsXR (extended-release cannabis capsules) can have for patients who are looking for relief that is consistent, discreet and reliable,” said Nancy Whiteman, co-owner of Wana Brands. Our licensing deal with MϋV to bring truly medicinal products — including transdermal patches and metered dose inhalers, that have been developed and tested for safety and consistency — to Colorado is the logical next step for us.”
The market for cannabis edibles has increased annually since Arizona legalized medical cannabis in 2010, with the medical market projected to hit $681 million by 2020, and edibles continue to be a popular item with patients.
“Wana Brands is known for its consistent quality as a national brand and perfectly aligns with MϋV’s mission,” said Karen Quick, director of commercial operations for AltMed Enterprises.