Pfizer Enters $6.7-Billion Acquisition Deal With Cannabis Pipeline

Cannabtimes

<![CDATA[While Pfizer Inc. has become ubiquitous among those receiving COVID-19 vaccines, the American multinational pharmaceutical and biotechnology company is now betting on the cannabis industry. Last week, Pfizer announced it entered into a definitive agreement to acquire clinical-stage company Arena Pharmaceuticals Inc. to the tune of $6.7 billion, with a transaction valued at $100 per Arena share in cash. The press release for the proposed transaction omits any direct mention of Arena’s ties to the medical cannabis industry, but that pipeline is connected to cannabinoid therapeutics with an aim to help treat bowel disease, as reported by Forbes. According to Arena’s website, Olorinab is a drug candidate for the treatment of pain and is a “full agonist of the cannabinoid Type 2 receptor (CB2).” CB2 is an endocannabinoid receptor predominately associated with immune system responses. Among its active ingredients Olorinab includes the drug SR144528, which has been used to study the function of the CB2 receptor. RELATED: CBG: A New(er) Option for Cancer Treatment?Arena’s initial focus for Olorinab is on treating visceral pain associated with gastrointestinal disorders. An oral form of Olorinab is currently in a Phase 2 clinical trial evaluating its efficacy and safety in patients experiencing abdominal pain associated with irritable bowel syndrome, according to the company website.   Olorinab, through its selectivity for the CB2 receptor versus cannabinoid Type 1 receptor (CB1), remains under trials for pain relief without psychoactive adverse effects and is not currently approved for use by any health authority. While the CB1 receptor is associated with psychoactive, neuromodulatory and analgesic effects due to its activation by THC, CB2 is associated with anti-inflammatory and immunomodulatory effects but not psychoactive effects. Compounds found in cannabis, such as THC and CBD, can bind to both receptor types to signal that the endocannabinoid system needs to act, but…

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Source : Pfizer Enters .7-Billion Acquisition Deal With Cannabis Pipeline

reposted by Cannabis News World

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