Zelira Therapeutics Ltd. announced that it has entered into a non-binding Heads of Agreement with Levin Growing Pty Ltd. to form a partnership to develop a novel cannabinoid-based treatment for sports-related chronic pain experienced by retired professional and amateur athletes. Studies show that retired athletes are more likely to suffer chronic pain and associated conditions such as depression and anxiety as a result of injuries and physical exertion over long periods of time. Medical cannabis may provide a safe and effective targeted treatment option for this large cohort although the clinical data is currently limited. Zelira's partnership with Levin will seek to address this unmet need by undertaking a clinical trial, at Levin's expense, to assess the safety and efficacy of a proprietary cannabinoid formulation tailored for sports-related chronic pain. The proposed partnership will leverage Zelira's leading intellectual property portfolio and expertise in clinical trial design for medical cannabis, including chronic pain, along with Levin's advisory team and network of retired professional athletes. This targeted approach provides an opportunity to build a leading international brand supported by clinical data that addresses a specific and widespread unmet medical need. Upon the Heads of Agreement becoming binding, Zelira will license a specific formulation to Levin to support the chronic pain clinical trial in retired athletes. Levin will fund the trial while Zelira will be responsible for designing and co-ordinating the study. Zelira will hold marketing rights for North and South America with Levin retaining rights to all other world markets. Profits will be shared equally between both companies. Negotiations will commence immediately to prepare a definitive and binding agreement, which will be conditional upon acceptance of the clinical trial design by both parties.