United Cannabis (OTCQB:CNAB) acquired a majority share of Prana Therapeutics, a clinical stage biotechnology company developing Polymolecular Botanical therapeutics for the oncology, neurology, and orthopedic markets.
As quoted in the press release:
Prana Therapeutics is a biotech company focused on developing targeted therapeutics for prevention of the negative side effects of chemotherapy, management of rheumatoid arthritis, and treatment of brain cancer. PTI’s approach to drug development reflects the recognition that most diseases have multiple causes and require therapeutics that target multiple mechanisms. With the aid of disease-specific screens, PTI has identified unique combinations of botanical extracts to target the mechanisms of initiation and progression of these diseases.