Sativa Investments PLC (NEX:SATI), the UK’s first medicinal cannabis investment vehicle, has signed an IP sharing agreement with Canadian-based emerging global pharmaceutical company Veritas Pharma Inc. (“Veritas” or “Veritas Pharma”) in which the Company invested C$ 0.2 million cash in May 2018.
Sativa is currently reviewing the potential for growing medicinal cannabis in the UK, and the IP sharing agreement includes Veritas Pharma, through its subsidiary company Cannevert Therapeutics Ltd., using its detailed research of cannabis strain lead selection to assist Sativa’s application to the UK Home Office Drugs Licensing and Compliance Unit for a medicinal cannabis growing licence.
Veritas Pharma focuses on the discovery, product development and commercialisation of effective patented Medicinal Cannabis therapies which target disease conditions in the areas of chronic pain, senior long-term and palliative care. It is dual listed on the Canadian Securities Exchange and America’s OTC exchange.
Cannevert Therapeutics Ltd. aims to obtain compelling scientific evidence for healthcare professionals to utilise medicinal cannabis strains with a reliable therapeutic effect on patients.
Geremy Thomas, founder and Chief Executive Officer of Sativa, said: “A key part of Sativa’s strategy is to target overseas investments that can be leveraged to assist the Company commercially as it participates in the industry in the UK and wider Europe. In this case, Veritas’ scientific knowledge of seed selection will expedite a potential UK licence application to enable Sativa to grow cannabis strains for its own research and development purposes including use by recipients of grants awarded by the Sativa Foundation.”