Maricann Group (CSE:MARI) has further solidified its stance into the biotech business of cannabis by completing (August 22) the acquisition of NanoLeaf Technologies, a company which has worked on a cannabinoid standardized dose soft gel capsule in Vesisorb a nano-dispersed drug.
“The acquisition… will significantly enhance Maricann’s growth trajectory by expanding our product portfolio, delivering access to new markets, and strengthening our pipeline of future products,” Ben Ward, CEO of Maricann said. The acquisition is expected to be done by the end of September.
Through this acquisition, Maricann wants to get closer to solving a challenge currently ailing the cannabis industry: “finding a predictable delivery mechanism of cannabinoids in an oral dosing format.”
Cannabinoids are a fat-soluble compound that have low solubility, leading to low dissolution rates and significant first-pass liver metabolism resulting in low and unpredictable oral cannabinoid bioavailability. This poor solubility not only gives low oral bio-availability but also leads to high inter- and intra-subject variability and lack of dose proportionality.
NanoLeaf focused on the extraction of tetrahydrocannabinol (THC) and cannabinoids. As part of the acquisition, Maricann will gain access to NanoLeaf’s exclusive market rights for both their extraction and drug delivery technology.
Maricann also gets a brand new portfolio of patents commercialized globally through various markets like pharmaceuticals and cosmetics.
Recently Maricann announced it would be raising $35 million as part of a private placement.
Maricann gets new tech
NanoLeaf’s drug delivery technology, VESIsorb boosts the bioavailability of cannabinoid oil, according to the company, by 600 percent.
The company indicated their technology can provide results in various forms like soft gels, liquid capsules, lotions, sprays, drinks and water soluble powder. Potentially opening the door for Maricann to explore distinct cannabinoid delivery methods.
Maricann began trading on April 24 of this year following its inception four years before.
The company has steadily been building its collection of licenses from Health Canada since 2014 when it first obtained a cultivation license. In September of last year, Maricann obtained its license for the sale of cannabis extracts.
Thanks to this acquisition Maricann has obtained a fascinating technology they hope will lead to new drug delivery methods for cannabis as the medical market in Canada continues to grow and the demand only gets bigger.
On Wednesday, August 23, Maricann saw a 0.74 percent decline to its stock. After market close, the company’s shares were priced at $1.35.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Meanwhile, two longstanding cannabis partners ended their relationship.
Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development
Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.
The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.
Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Planned Completion and Emergency Use Authorization Request
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.
With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.
DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.