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. Synbiotic can then acquire the Canadian company NeuroTheryX outright.
With this investment and the prospective entry into NeuroTheryX, Synbiotic SE is continuing 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 of a complete takeover of NeuroTheryX until March 1, 2024.
Back in February, Synbiotic CEO Lars Mueller spoke to Startbase about his big plans. He said that the cannabinoid start-up aims to become the leading provider in Europe. To achieve this, Synbiotic wants to acquire more and more companies in order to expand its position. In March, Synbiotic acquired the Stuttgart-based start-up The Hempany.
NeuroTheryX has been researching for years the mechanisms of action and relationships behind cannabinoids such as CBD or THC and their essential oils, also known as terpenes. 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 to date in these areas are impressive and we will continue to fund and expand them massively from now on."
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