Synbiotic invests in Canadian cannabinoid company

The cannabinoid startup has subscribed to a $2 million convertible bond. There is an option to convert it into 13.33 percent of the shares until March 1. Following this, Synbiotic can take over the Canadian company NeuroTheryX completely.

With the investment and the perspective entry in NeuroTheryX, Synbiotic SE continues the expansion of its research and development division. By subscribing to a convertible bond in the amount of two million US dollars, the listed company can acquire 13.33 percent of the Canadian company. Synbiotic also has the option to acquire NeuroTheryX outright by March 1, 2024.

Back in February, Synbiotic CEO Lars Mueller spoke with Startbase about his big plans. He said the cannabinoid startup aims to become the leading provider in Europe. To achieve this, 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 strains, NeuroTheryX has analyzed more than a hundred other plants for cannabinoids and terpenes and then cataloged them to develop effective products. "With NeuroTheryX and its holdings, we can now explore and patent new product formulations, combinations of active ingredients as well as 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."