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Harvest One Enters Pharmaceutical Market via Acquisition of PhytoTech Therapeutics in Israel
Harvest One Enters Pharmaceutical Market via Acquisition of PhytoTech Therapeutics in Isra...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"\n\n\n\nHarvest One Enters Pharmaceutical Market via Acquisition of PhytoTech Therapeutics in Israel\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, June 25, 2018\n\n\n\nTSXV – HVT    \n\n\n\nVANCOUVER, June 25, 2018 /CNW/ - Harvest One Cannabis Inc. (TSXV: HVT) (\"Harvest One\" or the \"Company\") has signed a binding Share Sale Agreement (\"SSA\") with Australian-based MMJ PhytoTech Limited (\"MMJ\") for the purchase of 100% of Israeli-based PhytoTech Therapeutics Ltd (\"PhytoTech\" or \"PTL\"). The transaction will be a combination of cash and shares.\n\n\n \n \n\n \nUpon completion, $1 million in cash and $7 million in Harvest One common shares issued at the then 10-day volume weighted average closing price, will be paid to MMJ. The sale is subject to customary conditions precedent including MMJ's shareholder approval to be sought at a meeting at the end of August 2018.\n\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 Nano technology. \n\nIn 2016, PTL successfully conducted a Phase 1 clinical trial demonstrating the safety and high performance of its proprietary PTL101 and PTL201 capsules. Importantly, the clinical trial also highlighted the favourable bioavailability of the capsules in comparison to Sativex – a market-leading, commercially available cannabinoid oral spray produced by GW Pharmaceuticals (LON: GWP) (NASDAQ: GWPH). \n\nPhytoTech is currently conducting two separate Phase 2 clinical trials, using Satipharm's proprietary Gelpell Microgel technology; the first in children with epilepsy and the second one in adult patients with multiple sclerosis. In February this year, very positive initial results were released from the epilepsy trial indicating that Satipharm's capsules significantly reduce monthly seizure frequency when added to current medication...