Argent BioPharma (ASX:RGT) and AusCann Group Holdings signed a strategic heads of agreement to advance cannabinoid-based pharmaceutical development through the exchange of proprietary datasets and regulatory expertise, according to a Tuesday Australian bourse filing.

AusCann will license Argent BioPharma's CannEpil CMC and Dossier specifically for non-epilepsy-related pharmaceutical programs.

The companies will also gain access to AusCann's proprietary self-emulsifying hard-shell capsule formulation, Neuvis, including access to pharmacokinetic and pharmacodynamic data.

The firms will also establish a joint steering committee to coordinate research and development efforts as well as optimize regulatory strategies.

The agreement also includes a deferred licensing fee structure, with royalties on pharmaceutical products developed using jointly leveraged data, research and development, or assets.

Financial terms were not disclosed.

Argent BioPharma's shares were down almost 3% in recent Tuesday trade.