Rapid Dose Therapeutics Corp. and Skycare Compounding Labs announced the signing of a mutually-beneficial Managed Strip Services Agreement for the production of oral thin film strips of approved pharmaceuticals. Under the terms of the Agreement, RDT will provide Skycare Labs with capital equipment, know-how, training and production process assistance that will enable Skycare to bring an additional delivery platform of prescription medications to patients.

Along with RDT's suite of nutraceutical and cannabis products, this additional product option covers all sectors for oral delivery to consumers and patients. This is what shareholders and partners have been asking for - creating value for the QuickStrip delivery within the broad medical community. Skycare utilizes the latest compounding technology that aligns with the highest standards for quality control meeting and exceeding international compounding guidelines (NAPRA, USP 795 & USP 797) and provincial requirements.

As a Licensed and Registered Drug Preparation Premises by the Ontario College of Pharmacy, Skycare provides hospitals and other qualified licensed facilities with sterile and non-sterile compounding services. Under the terms of the agreement Skycare will provide the licensed facility, formulation and production labor, sales and marketing to hospitals, medical and dental clinics, practitioners and pharmacies. The Agreement will take effect immediately for a term of five years with options to renew.