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.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.