Medicinal cannabis producer Cann Group (ASX:CAN)
has sealed a deal to acquire Satipharm from Canadian-domiciled Harvest One Cannabis (CVE:HVT).
The acquisition will provide the buyer an exclusive license to develop and market the proprietary Gelpell delivery system for cannabinoids and accelerate the development of other novel THC-based medicines. Market researchers have tipped the acquisition to widen Cann (ASX:CAN)
’s market reach, considering existing commercial supply agreements with distribution channels in the UK, Ireland and Eastern Europe.
Shares in Cann Group (ASX:CAN)
are trading 1.3 per cent higher at $0.78.