Cann Group (ASX:CAN) and Emyria (ASX:EMD) scrap CBD deal for other opportunities

CANNANNEW REPORT

It was on the cards … is there anything they can’t fuck up? But as always post a Cann Group press release on something not happening their share price went up. Umm how on earth could that happen. As my aged mother says.. Give us strength…. The Market Herald reports Cann Group (CAN) and Emyria (EMD) mutually agree to drop a deal for the proposed registration of a Schedule 3 cannabidiol (CBD) product The deal signed in March had sought to progress an over-the-counter medicine with the TGA using Emyria’s EMD-003 program and Cann’s Gelpell technology The two companies will now pursue registration of a Schedule 3 CBD product independently Emyria has already signed an agreement with North American contract drug manufacturer AltaSciences Shares in Cann Group are up 3.33 per cent to $0.31 while Emyria is up 7.89 per cent to $0.20 per share at 11:00 am AEST Cann Group (CAN) and Emyria (EMD) have mutually agreed to drop a deal for the proposed registration of a Schedule 3 cannabidiol (CBD) product. Announced at the end of March this year, the agreement between the two cannabis-focused companies sought to progress an over-the-counter medicine with the Therapeutic Goods Administration (TGA) by using Emyria’s EMD-003 drug development program and Cann’s proprietary Gelpell microsphere technology. Following a detailed review, however, the two companies have elected to terminate the arrangement and instead plan to independently pursue registration programs for a Schedule 3 CBD product. After acquiring the patented Gelpell technology through its acquisition of Satipharm in March, Cann is now looking to resume an internal development program with the aim of securing TGA approval for a Schedule 3 CBD product by the end of 2022. Cann Group CEO Peter Crock said of the products: “Satipharm CBD capsules were one of the first medicinal cannabis products…

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Source : Cann Group (ASX:CAN) and Emyria (ASX:EMD) scrap CBD deal for other opportunities

reposted by Cannabis News World

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