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Harvest One Completes Acquisition of Israeli-based Phytotech Therapeutics
Harvest One Completes Acquisition of Israeli-based Phytotech Therapeutics Canada N...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"\n\n\n\nHarvest One Completes Acquisition of Israeli-based Phytotech Therapeutics\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 20, 2018\n\n\n\nTSXV – HVT\n VANCOUVER, Nov. 20, 2018 /CNW/ - Harvest One Cannabis Inc. (TSXV:HVT) (\"Harvest One\" or the \"Company\") is pleased to announce that it has completed its previously announced acquisition of 100% of Israeli-based Phytotech Therapeutics Ltd. (\"Phytotech\" or \"PTL\") from Australian-based MMJ Group Holdings Ltd. (formerly, MMJ Phytotech Limited) (\"MMJ\"). \n\n \n \n\n \nIn consideration for the acquisition of PTL, Harvest One paid C$1,000,000 in cash and 8,326,694 Harvest One common shares. \nFounded in 2014, Phytotech has developed advanced oral delivery formulations for cannabinoid-based prescription drugs and holds an exclusive worldwide licensing agreement with Yissum Research Development Company, the commercial arm of the University of Jerusalem, for a proprietary lipid nanotechnology.  \nWith the acquisition, Harvest One's wholly-owned subsidiary Satipharm will gain access to advanced patents in favourable jurisdictions that can be used for further R&D and product development to aggressively pursue the rapidly evolving cannabis oils market. \nPTL was also responsible for administrating the successful clinical trials using Satipharm's proprietary capsules. The Phase 1 clinical trials demonstrated the safety and high performance of the oral capsule technology, including the effective delivery profile of cannabidiol (\"CBD\"), while Phase 2 clinical trials were completed in 2017, returning favourable results in the treatment of pediatric epilepsy. \n\"Harvest One's acquisition of PTL gives all of the Company's businesses access to valuable IP and capabilities that can be used to augment our health and wellness strategy as well as our medical offerings,\" said Grant Froese, CEO of Harvest One. \"This acquisition further demonstrates the global nature of Harvest One, now with a presence in Canada, the United States, the European Union and Israel\".\nDue to the f...