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Deal with German cannabis outfit Synbiotic puts Greenlight Medicines on a high
German cannabis firm Synbiotic has acquired a 25% stake in Irish medicinal cannabis research company Greenlight Medicines for an undisclosed sum.
In a statement to the Dusseldorf Stock Exchange last week, Synbiotic said it had acquired the shareholding in Greenlight with the option of increasing its stake in the future.
The German firm is focused on backing cannabinoid companies and developing its own products.
Founded in 2014, Dublin-headquartered Greenlight Medicines develops plant-based medicines. The company specialises in phytocannabinoid research and clinical development, and is aiming to bring to market treatments for conditions such as multiple sclerosis, glaucoma, arthritis, epilepsy and various cancers.
It provides CBD oil and food supplements through the subsidiary Greenlight Supplements.
Commenting on the acquisition, Synbiotic chief executive Lars Müller said: “With
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