Revive Therapeutics Ltd (OTCMKTS: RVVTF) is a life sciences corporation that focuses on researching and developing therapeutics that can be used to treat rare medical disorders. The company recently announced that it had executed an exclusive license agreement with PRSTRT (Puerto Rico Science and Technology and Research Trust), a representative of St. Jude Children’s Hospital and UCC (Universidad Central del Caribe), for an IP asset.
Researchers at both UCC and St. Jude have found anti-cancer activity in the medicinal mushroom Ganoderma lucidium component. This anti-cancer activity is specifically linked to breast cancer activity. Thus, this component looks like it can potentially treat some aggressive breast cancers like inflammatory breast cancer and triple-negative breast cancer.
Revive Therapeutics’ Chief Executive Officer, Michael Frank, said they were delighted about the company’s new addition to its clinical-stage product pipeline. He continued to say that this will help strengthen the company’s long-term goal of discovering the therapeutic potential medicinal mushrooms, like Ganoderma lucidium and psilocybin, have to treat aggressive cancers, mental health, and even substance abuse. The CEO said that the company intends to build on the clinical research conducted by UCC and St. Jude teams by moving towards FDA-approved IND-enabling research for human clinical studies.
Medicinal mushroom products have played a big role in the traditional Chinese medicinal culture for over two millennia. The Ganoderma lucidium compound has been associated with improved quality of life. Furthermore, it doesn’t interfere with any of the conventional therapies that already exist. Commercially available Ganoderma lucidum is used to treat and prevent immunological disorders, cancer, and hypertension. Furthermore, studies have shown that Ganoderma lucidium can selectively inhibit breast cancer activity, reduces the size of tumors by roughly 50%, regulates key signaling molecules, reduces invasion, and induces apoptosis. However, despite all this, the organic components that make up its biological format haven’t been identified just yet. There’s still a lot of research on that part.
Scotts Miracle-Gro Co (NYSE: SMG) Bolsters its Hawthorne Gardening Portfolio by acquiring Rhizoflora Assets
Scotts Miracle-Gro Co (NYSE: SMG) is a leading global marketer of branded gardens/lawns as well as hydroponic and indoor growing products. It recently announced it had acquired a leading nutrients business of Rhizofloras, including its Purpinator and Terminator brands. This has helped expand the company’s Hawthorne Gardening product portfolio. Scotts Miracle also separately announced that its Hawthorne Collective subsidiary had acquired a warrant to purchase an equity stake of $3.2 million in Dewey Scientific. This transaction will help greatly advance the industry-leading cannabis cultivation methods and genomics Dewey possesses. The Hawthorne Collective investment will only be used on things allowed by United States law.
Hawthorne is now the main provider of Purpinator and Terminator
Rhizophora has been producing Purpinator and Terminator for quite some time now. Before this transaction, Hawthorne was just another one of the distributors. However, now it’s going to be the main one in the United States.
Hawthorne Gardening’s President, Chris Hagedorn, said the acquisition reflects their broader goal of creating the most comprehensive product portfolio possible so that it can serve both growers and cultivators at scale. He stated that they appreciate their longstanding partnership agreement with Rhizoflora and that they look forward to helping advance both the brands, including introducing Purpinator and Terminator to other expanded markets.
Nature of the deal
The agreement terms dictate that Scotts Miracle will get all of Rhizoflora’s assets substantially for a consideration price of $33.5 million, with the addition of roughly $8 million in annual sales. Acquiring the Purpinator and Terminator product lines will help expand Hawthorne’s nutrients products portfolio as well. In addition, the company will increase its sales and marketing efforts involving these two brands so as to ensure its 360 Total Solution program for growers gets support.
On the other hand, Dewey Scientific specializes in leveraging classical breeding methods, genomics, and data science to help improve both the genetic diversity and quality of cannabis crop products grown in the Pacific Northwest region. The Hawthorne Collective investment will help extend that reach.
Curaleaf Holdings Inc (OTCMKTS: CURFLF) Sells its Shares to Andrey Blokh
Mr. Andry Blokh recently announced his acquisition of 722,577 subordinate voting shares of Curaleaf Holdings Inc (OTCMKTS: CURFLF). This represents roughly 0.125 of the company’s outstanding and presently issued Subordinate Voting Shares. Mr. Blokh acquired these 722,557 shares through agreements with the company itself and its indirect subsidiary.
Nature of agreement
However, according to this particular agreement, Curaleaf’s indirect subsidiary bought Blokh’s ownership interests in Naturex (a Blackjack Collective entity that runs a cannabis dispensary in Las Vegas) and Las Vegas Natural Caregivers (an entity that cultivates high-grade cannabis for dispensaries in the Las Vegas region. The Blackjack Transaction happened in November 2017. However, the agreement terms were amended in October 2019. The latter transaction was done in October 2019. Both transactions were concluded in August this year once regulatory approval was received. The 722,577 Subordinate Voting Shares transferred to Mr. Blokh was the consideration Curaleaf paid for the ownership rights to these entities.
Immediately before the acquisition, Andry Blokh owned about 127,173,634 Subordinate Voting Shares, which represented roughly 20.87% of the Curaleaf’s outstanding and issued Subordinate Voting Shares. The shares Andry owned before the transactions were transferred in connection to when it completed its business combination.
Andry Blokh has acquired these shares for investment purposes. He may either dispose of his holding or acquire more of the same shares depending on how the market behaves as well as other conditions. Mr. Blokh, one of the wealthiest Russians alive, owns about 28% of the company, valued at around $4 billion in 2018. He is worth about $905 million and is a former business partner to another wealthy Russian, Roman Abramovich. In 2010, Mr. Blokh bought one of Roman’s assets, Unimilk.
He recently has had his sights set on the global cannabis market, seeing as how many countries are either in the process or have outright legalized cannabis for medical use. Besides the United States, Britain, Thailand, and Greece have managed to liberalize their cannabis industries.
Columbia Care Inc (OTCMKTS: CCHWF) Scales its New Jersey Efforts by Opening a New Dispensary in Deptford, South Jersey
Columbia Care Inc (OTCMKTS: CCHWF) is one of the United States’ most experienced and largest providers, cultivators, and manufacturers of both recreational and medical use cannabis products. It recently announced that it was opening a new dispensary in New Jersey, which will be located in Deptford’s Clements Bridge Road. The grand opening included a ribbon-cutting ceremony with Mayor Medany.
The company’s Chief Growth Officer, Jesse Channon, said that it is an ideal time for them to expand their New Jersey footprint especially considering how rapidly the cannabis community in the region is growing and the adult-use approved transition that’s soon to come. He claimed that they were delighted to bring cannabis-based products to the southern part of New Jersey, a region he said has a significant medical population. He thanked the Chamber of Commerce, Mayor Medany, and everyone who supported them throughout the entire process. The CGO confirmed that they couldn’t wait to welcome patients and provide them with unique all-around shopping experiences.
The Deptford dispensary will complement the company’s existing location as well as its Vineland-based 50,000 sq ft production and cultivation facility. This facility’s first harvest was completed in July. In addition, Columbia Care Inc intends to open another dispensary in the Hamilton region, which is expected to be up and running by the end of this year. The company will also open a second production and cultivation premises in Vineland that’ll provide an additional 250,000 sq ft of distribution, manufacturing, and canopy space, pending approval from the relevant authorities.
The dispensary will initially be stocked with the company’s Seed & Strain brand line and a wide array of products from other wholesale partner brands. However, the company said that it would add more of its brands as it continues to establish its footprints in the said regions. It will also add the Forage product, its one of a kind proprietary online discovery tool. Patients can go on the internet to view the menu.