Canadian cannabis industry companies Pivot Pharmaceuticals and Agro-Biotech made news on February 22, 2018 when Pivot announced the proposed acquisition of Agro-Biotech. Pivot Pharma is known for its drive to improve dosing and bioavailability of cannabinoids and holds several patents for its unique delivery technologies. Agro-Biotech is one of six licensed producers of medical cannabis in Quebec, Canada with numerous cannabis strains including those with high levels of cannabidiol (CBD). With this proposed transaction, Pivot Pharma will be able to manage and direct the entire process from seed to consumer.
Pivot Pharmaceuticals’ medical cannabis division, Pivot Green Stream Health Solutions (PGS), already conducts research and supports new development and commercialization of its products; Agro-Biotech can bring their expertise and experience as a grower and producer of medical cannabis to help Pivot further innovate and drive medical cannabis research efforts. PGS’s mission is to develop novel treatments to address unmet healthcare needs. Pivot recently procured worldwide rights for two proprietary drug delivery methods for cannabinoid, cannabidiol and tetrahydrocannabinol products.
Canada legalized medical cannabis in 2001 and under Health Canada, the country’s equivalent to the US Department of Health and Human Services, they have worked to keep a steady balance of approved growers with licenses to have a supply to sufficiently meet demand. Canada also established the Canadian Consortium for the Investigation of Cannabinoids (CCIC) which is a federally approved nonprofit organization bringing scientists and clinical researchers together with health care professionals to promote evidence based research surrounding the application of endocannabinoids and phytocannabinoids. CCIC has an annual conference focused on cannabinoids in clinical practice scheduled for April 2018.
The cannabis science industry is growing rapidly in many areas of the world; it is not surprising for companies in niche marketplaces or specific sectors within the industry to collaborate and keep momentum going. As countries consider changes to medical cannabis laws and/or drug classification, companies working together or acquiring one another might lead to quicker change and therefore, more research on the risks and benefits of medicinal cannabis.
Sources: Pivot/Biotech Proposal Letter of Intent, Pivot Green Stream Health Solutions (PGS), Canadian Consortium for the Investigation of Cannabinoids (CCIC)
