Synbiotic invests in Canadian cannabinoid company

The cannabinoid start-up has subscribed to a convertible bond in the amount of two million US dollars. There is an option to convert it into 13.33 percent of the shares by March 1. Synbiotic can then acquire the Canadian company NeuroTheryX outright.

Synbiotic SE is continuing the expansion of its research and development division with this investment and the prospect of acquiring a stake in NeuroTheryX. By subscribing to a convertible bond in the amount of two million US dollars, the listed company can acquire a 13.33% stake in the Canadian company. Synbiotic also has the option to take over NeuroTheryX completely by March 1, 2024.

Synbiotic CEO Lars Müller spoke to Startbase back in February about his big plans. The cannabinoid start-up aims to become the leading provider in Europe. To this end, Synbiotic wants to take over more and more companies in order to expand its position. In March, for example, Synbiotic acquired a stake in Stuttgart-based start-up The Hempany.

NeuroTheryX has been researching the mechanisms of action and relationships behind cannabinoids such as CBD or THC and their essential oils, also known as terpenes, for years. In addition to hemp and cannabis varieties, NeuroTheryX has analyzed more than a hundred other plants for cannabinoids and terpenes and then catalogued them in order to develop effective products. "With NeuroTheryX and its holdings, we can now research and patent new product formulations, combinations of active ingredients and novel molecules based on cannabinoids and terpenes," says Synbiotic CEO Lars Müller. "NeuroTheryX's results in these areas to date are impressive and we will continue to massively promote and expand them with immediate effect."