Chain Bridge I(NASDAQ:CBRG)announced on Monday the acquisition of Phytanix Bio, a pharmaceutical company specializing in the development of therapeutics based on cannabinoid and cannabinoid-like molecules. The transaction,valued at $58 million, also includes the assumption of preferred stock and short-term debt, which will convert to preferred stock upon the deal's closure, slated for the fourth quarter of 2024.
Phytanix Bio's Strategic Acquisition Overview
Phytanix Bio, a company founded by formerGW Pharmaceuticalsleaders,holds exclusive intellectual property that has been central to the creation of FDA-approved cannabinoid-based medicines like Sativex and Epidiolex. With...
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