An Israeli Canadian technology company said it plans to raise money for research into a medical straw for delivering vitamins to children and adults who have difficulty swallowing or who regularly miss medications and vitamins.
StickIt Technologies Inc said it intended to raise C$1.5 million (US$1.1million) for the medical straw project during the first and second quarters of 2025.
The company said it would seek partnerships with generic pharmaceutical companies that were interested in being part of the research and submission for U.S. Food and Drug Administration (FDA) approval.
Research would begin once fund-raising was completed.
"This is a significant breakthrough for our company and the investors," StickIt Technologies Inc CEO Eli Ben Haroosh said in a statement.
"We are looking for every opportunity to develop our technology and lead the global market.”
StickIt describes itself as a technology company that invented and manufactures innovative products containing varying quantities of catabolites or vitamins for recreational and medical users.
StickIt (CSE: STKT) shares last traded at Canadian 0.5 cents, having fallen from a 52-week high of 22 cents since February.