Pivot Pharmaceuticals and Cartagena have agreed to create a joint venture (JV) for the development and commercialisation of cannabis-infused non-alcoholic beverages.

Pivot’s patented water-soluble powdered cannabis technologies will be used to create the products, which will comprise Cartagena’s spirits and flavoured extract formulations.

Pivot’s CEO Dr Patrick Frankham said: “We are thrilled that Cartagena has agreed to enter this JV.

“Their world-class team of experts and award-winning product lines combined with Pivot’s industry-leading intellectual property portfolio will result in consumers being able to enjoy cannabis-infused beverages that taste good, are stable and consistent, science-based and provide the experience they are looking for without the side effects of alcohol.

“We are excited to partner with Pivot to create low calorie, rapid onset cannabis-infused beverages.”

“This is yet another milestone moment for Pivot as we will once again monetise our intellectual property (IP) portfolio. The importance of having patent protection should also not be underestimated.

“We realise that there are several companies offering cannabis-infusion technology but we are confident that our portfolio of issued patents is strong and defensible.”

The JV will also have an extensive access to sales, distribution and marketing expertise.

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Cartagena’s managing director Paul Bou-Nader said: “We are excited to partner with Pivot to create low calorie, rapid onset cannabis-infused beverages. This is a brand-new category of beverages and we are happy to be early movers in the space.”

Cartegena is a subsidiary of Mexico-based Licorera Del Sur. It is responsible for its parent’s international expansion and the production of spirits such as tequila, vodka, rum, aguardiente and whisky.

The company noted that it will be preparing for the potential legalisation of cannabis in Mexico.