Cannabis company Pivot Pharmaceuticals Inc (CSE:PVOT) (OTCQB:PVOTF) (FRA:NPAT) reported on Wednesday that it has signed a Letter of Intent (LOI) with Pharmascience Inc.

Under the terms of the LOI, Pharmascience will conduct analytical testing and collaborate on development and research of new medicinal products containing cannabis or cannabis derivatives and drugs containing cannabis and/or cannabis derivatives.

It will also provide regulatory support necessary to attain Marketing Authorization, and marketing and distribution of finished pharmaceutical dosage forms.

Pharmascience is the fourth largest manufacturer of over-the-counter generic drugs in Canada and is a leading manufacturer and marketer of prescription generic, over-the-counter and behind-the-counter products as well as US FDA approved Canadian-made injectables.