Rapid Dose extends precommercialization nicotine deal

Mr. Mark Upsdell reports RAPID DOSE THERAPEUTICS RELEASES NICOTINE BUSINESS UPDATE AND EXTENDS COLLABORATION WITH INTERNATIONAL NICOTINE PARTNER Rapid Dose Therapeutics Corp. has issued a comprehensive update on its nicotine strategy, including the extension of its exclusive precommercialization and development agreement with its international nicotine partner. The agreement, previously announced on Jan. 28, 2025, has been extended retroactively to June 19, 2025, for a further seven months from the date of execution, representing up to approximately $1.8-million over the period, subject to termination provisions. This extension allows the parties to continue assessing the potential for bringing nicotine oral thin strips leveraging Rapid Dose's QuickStrip technology with the NicStrip brand to market. Rapid Dose respects the right of the company to remain anonymous until a commercial agreement is signed. Leadership commentary "This extension marks an important milestone in advancing NicStrip toward potential commercialization discussions with our international nicotine partner. We appreciate the collaborative spirit and look forward to advancing these evaluations together," said Mark Upsdell, chief executive officer of Rapid Dose Therapeutics. "This continued collaboration allows both parties to further their evaluations of NicStrip as part of the broader shift toward smoke-free alternatives. The financial commitment embedded in this extension underscores the shared seriousness in exploring a pathway to market in a rapidly evolving nicotine alternatives sector," said Jason Lewis, senior vice-president of Rapid Dose Therapeutics. Progress on Rapid Dose's nicotine portfolio: Health Canada submission: On Aug. 4, 2025, Rapid Dose submitted an application for its NicStrip nicotine products in one-milligram, two-milligram, three-milligram and four-milligram formats -- marking a key step toward Canadian market readiness. Clinical evaluation: A pharmacokinetic study launched in June, 2025, under good clinical practice is in progress to benchmark NicStrip nicotine absorption against combustible cigarettes. These results will help inform regulatory positioning and product claims. Patent protection: In May, 2025, Rapid Dose and its collaborative development partner filed two international PCT patent applications covering dissolvable and non-dissolvable nicotine oral strip formats -- a significant expansion of Rapid Dose's intellectual property footprint. Product profile: NicStrip is a fast-dissolving oral thin film that delivers nicotine through oral mucosa. It is designed for adult consumers exploring alternatives to existing nicotine formats -- including cigarettes, vaping products, mints and pouches. NicStrip aims to mimic the nicotine absorption curve of a cigarette without the harmful byproducts of combustion. Key advantages include: Customizable nicotine strengths (one to 12 milligrams), flavour and dissolution profiles; Discreet, hygienic packaging with minimal waste; Positive user feedback (flavour, nicotine delivery and mouth feel); Flexible packaging formats and scalable manufacturing. Market opportunity and global trends The global shift toward non-combustible nicotine alternatives continues to accelerate. Below are select indicators and comparisons: The Canadian nicotine pouches market was valued at $112.2-million (U.S.) in 2024, with projected annual growth of 4.7 per cent through 2030, driven by increased adoption of discreet, smoke-free alternatives and a growing public health focus on harm reduction. The global nicotine pouches market was valued at approximately $5.39-billion (U.S.) in 2024 and is projected to reach approximately $25.40-billion (U.S.) by 2030 (compound annual growth rate approximately 29.6 per cent). The modern oral nicotine products category (beyond pouches) was estimated at $6.8-billion (U.S.) in 2024, and is forecast to reach $75.7-billion (U.S.) by 2034 (CAGR approximately 27.7 per cent). In North America, the nicotine pouch market was valued at $2.42-billion (U.S.) in 2022 and is projected to reach $4.06-billion (U.S.) by 2030 (CAGR approximately 6.7 per cent). In Sweden, smoking prevalence is among the lowest in Europe (5.8 per cent daily smokers in 2022), coinciding with high use of smokeless nicotine alternatives such as snus, which overtook smoking among men decades ago. Swedish studies correlate snus use with higher smoking cessation rates than in populations that never used snus, suggesting smokeless alternatives may play a role in aiding switching or quitting PMC pubmed central. These trends suggest a robust addressable market beyond current smoke-free alternatives alone and underscore the potential for NicStrip to participate across global jurisdictions where alternative nicotine formats are gaining regulatory and consumer acceptance. A commitment to innovation Rapid Dose Therapeutics remains committed to reshaping the way active ingredients are delivered to the body. With NicStrip, the company is introducing a fast-acting, discreet and consumer-preferred alternative that addresses the growing global demand for smoke-free nicotine solutions. Backed by positive consumer testing results and a disciplined, step-by-step commercialization strategy, NicStrip is well positioned to capture meaningful market share in the rapidly expanding nicotine alternative category. About Rapid Dose Therapeutics Corp. Rapid Dose is a Canadian biotechnology company revolutionizing drug delivery through innovation. The company's flagship product QuickStrip is a thin, orally dissolvable film that can be infused with an infinite list of active ingredients, including nutraceuticals, pharmaceuticals and vaccines, that are delivered quickly into the bloodstream, resulting in a rapid onset of the active ingredient. We seek Safe Harbor.