Avecho Biotechnology Limited announced that it signed a term sheet with leading global supplier of cannabinoid actives, Purisys LLC for the supply of pharmaceutical grade cannabidiol and dronabinol. Avecho will combine Purisys' cannabinoids with its own TPM technology to develop new oral cannabinoid products. Avecho (formerly Phosphagenics) has a long relationship with Purisys' predecessor company, Noramco. The synthetic cannabidiol produced by Purisys is distinguished by its strong intellectual property position, ultra- high purity, commercial scale, and low THC concentration. The term sheet describes Purisys' supply of cannabidiol and dronabinol for the research and clinical development of TPM enhanced cannabinoid products that will be developed by Avecho for specific clinical indications and formal regulatory approval. In return, Avecho has agreed to purchase future commercial supply from Purisys upon the commercialisation of specific cannabinoid products.