Cannabis is being used today for reasons as diverse as pain control to regulating seizures. Today shares of a Canadian company surged after announcing a partnership that plans on expanding studies within pediatric applications.
Biocannabix Health Corporation is a wholly-owned subsidiary of Relevium Technologies Inc. (CA:RLV), focusing on pediatric and geriatric applications of Cannabinoid nutraceutical and medical food formulations. The LOI will allow Biocannabix 51% equity interest in the combined research entity with German- based IAM Health GmbH.
IAM Health GmbH develops new treatments for autoimmune conditions, including the study of the role of certain cannabinoids, primarily for the development of therapies for pediatric applications. Biocannabix will benefit from a realigned direction that focuses on the pediatric cannabinoid space.
Shares of Relevium have fallen from higher levels earlier this year, but news of the partnership sent the stock up 20% in early-afternoon trading.
