Cannabis and Hemp Industry Investment News

Cannabis Industry Press Releases and News Articles from the best investment journalist in the industry. Stay updated on all cannabis investment news from every online source, on MjInvest.com

Namaste Technologies subsidiary CannMart inks Canadian supply deal with HEXO

Namaste said the new agreement with HEXO points to the continued validation of CannMart.com as a platform for Canadian medical cannabis

Namaste says working with established players such as HEXO expands the company’s product range within the medical cannabis market, while allowing its partners to focus on producing and marketing their cannabis products

 () () (FRA:M5BQ) announced that cannabis products from well-known licensed producer HEXO Corp (TSE:HEXO) will be available to Canadian medical customers on Namaste subsidiary CannMart.com beginning in March on an ongoing basis, or until such time as the agreement is terminated by either party.  

Namaste said the new agreement with HEXO points to the continued validation of CannMart.com as a platform for Canadian medical cannabis. 

“Working with established players such as HEXO expands our product range within the medical cannabis market, while allowing our partners to focus on their business of producing and marketing their cannabis products,” Namaste Technologies CEO Meni Morim said in a statement.  

READ: Namaste Technologies receives TSX approval for its US expansion plans

He added: “It is important that we continue to offer our medical customers increased access to a wider range of medical cannabis products for home delivery across Canada.”

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Namaste Technologies shares advance as its CannMart Labs subsidiary receives Health Canada processing licence

It means the cannabis-focused group can leverage its existing sales licence through CannMart Inc to bring its manufactured products to Canada

"This is a major catalyst for Namaste to generate material revenue through the sale of new and exciting cannabis products and by offering contract manufacturing services to our partners,” Meni Morim, the CEO of Namaste, said

() () (FRA:M5BQ) shares were boosted on Friday as the group announced its CannMart Labs Inc subsidiary had received a processing licence from Health Canada.

It means the cannabis-focused group can leverage its existing sales licence through CannMart Inc to bring its manufactured products to Canada and expects to do so by the end of the second quarter this year.

READ: Namaste Technologies adds Auxly Cannabis and TGOD products to its CannMart.com platform

"This is a major catalyst for Namaste to generate material revenue through the sale of new and exciting cannabis products and by offering contract manufacturing services to our partners,” Meni Morim,  the CEO of Namaste, said in a statement.

"The team has selected and installed state-of-the-art extraction equipment and technology in its facility, which will be able to produce an array of cannabis products including shatter and live resin, as well as future distillate products such as vape cartridges, gel capsules, tinctures and edibles.

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Namaste Technologies adds Auxly Cannabis and TGOD products to its CannMart.com platform

The company said the new products, which will available in March, provide continued validation of CannMart.com as a platform for Canadian cannabis

Namaste said that featuring cannabis products on CannMart.com will give growers a first mover advantage for which they can build their audience at an accelerated rate

 () () (FRA:M5BQ) announced that it has expanded its offerings available on the company website’s CannMart.com to include products from leading licensed producers, such as and The Green Organic Dutchman Holdings Ltd (TGOD), in addition to craft cannabis grower Wabi Sabi Brands.    

The company said the new products, which will be available in March, provide continued validation of CannMart.com as a platform for Canadian cannabis.

“We are seeing more and more licensed producers and accessories suppliers contacting us to have their products featured on CannMart.com as they realize that this will give them a first-mover advantage on the platform for which they can build their audience at an accelerated rate,” Namaste Technologies CEO Meni Morim said in a statement.

READ: Namaste Technologies advances US expansion plans by selling hemp CBD through CannMart.com by collaborating with PeakBirch Logic

He added: “This growing validation of our platform is certainly rewarding for our organization. As we witness shifting sands in the cannabis industry dynamics, licensed producers are searching for opportunities to streamline their distribution channels.

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Namaste Technologies receives TSX approval for its US expansion plans

The company expects to start selling smoking accessories and hemp-derived CBD to US customers on its website cannmart.com by the end of February

Namaste Technologies says its US expansion fits squarely into its evolution into a wellness company

 () () (FRA:M5BQ) announced that it has received approval from the TSX Venture Exchange to sell smoking accessories and hemp-derived CBD in the US. 

The company noted that it expects the products to be available to US customers on its website www.cannmart.com by the end of February, in collaboration with DankStop and PeakBirch Logic, Inc, as Namaste looks forward to leveraging its VendorLink technology. 

“The announcement of this expansion in the US underscores Namaste’s intention to increase its total addressable market and exploration into other verticals as regulation evolves and other adjacent complementary market opportunities present themselves,” Namaste Technologies CEO Meni Morim said in a statement. 

READ: Namaste Technologies estimates a 100% surge in its 4Q revenue to $8 million 

He added: “The expansion also fits squarely into our evolution into a wellness company, connecting consumers to their wellness needs of tomorrow.”

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Namaste’s Business Evolution Expanding into Wellness and Nutraceuticals

Namaste (CVE: N- OTCMKTS: NXTTF) CEO Meni Morim joined Steve Darling from Proactive with news the company is making a move into wellness with the launch of a Nutraceuticals Division. Morim talks about the strategy behind this move, how the company plans to lead in Cannabis 3.0 and also about their recent 23-million-dollar financing.

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Namaste Technologies says board approves launch of new nutraceutical division and expansion into psychedelics

The nutraceutical division is slated to start in fiscal year 2021 headed by COO Faraaz Jamal as Namaste seeks to become a pre-eminent wellness company

Subsidiary CannMart Labs plans to hire a regulatory consulting firm to advise on its upcoming application to Health Canada for a Controlled Drugs and Substances Dealer’s Licence

 () () (FRA:M5BQ) has announced board approval for its expansion to broaden its total addressable market and to evolve into a pre-eminent wellness company to connect consumers to their wellness needs via additional pathways beyond cannabis. 

“Our mission is to leverage technology to build the world’s first personalized wellness marketplace; a platform where consumers can learn about wellness products, interact with a variety of brands, and make easy, informed purchases,” the company said in a statement late Tuesday.  

Launch of nutraceutical division

As part of the total addressable market expansion, Namaste said its board approved the launch of a nutraceutical division in fiscal year 2021 headed by Faraaz Jamal, the company's chief operating officer. 

Jamal was previously responsible for the strategic reorientation of Bulletproof 360 Inc, a health and wellness trailblazer, where he was able to guide development and rapidly scale multiple channels and product categories to successful revenues.

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Namaste Technologies closes previously announced "bought deal" public offering for total gross proceeds of $23,023,000

The company expects to use the net proceeds from the offering for the further development and expansion of its business and for working capital and general corporate purposes

The group said it sold 65,780,000 units of the company at a price of C$0.35 per unit under the offering, including 8,580,000 units sold under the exercise in full of the underwriters' over-allotment option

Namaste Technologies Inc. (CVE:N), a leading platform for cannabis products, accessories, and education announced that it has closed its previously announced "bought deal" public offering for total gross proceeds of $23,023,000. 

The group said it sold 65,780,000 units of the company at a price of C$0.35 per unit under the offering, including 8,580,000 units sold under the exercise in full of the underwriters' over-allotment option.

The company expects to use the net proceeds from the offering for the further development and expansion of its business and for working capital and general corporate purposes.

READ: Namaste Technologies bolsters working capital with amended C$20M bought deal financing

Each unit in the offering consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of C$0.47 each until January 19, 2024. 

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Namaste Technologies bolsters working capital with amended C$20M bought deal financing

Canaccord Genuity Corp, on behalf of a syndicate of underwriters, agreed to purchase 29 million units in the capital of the company at a price of C$0.35 per unit

Namaste is a cannabis-focused ecommerce technology company based in Toronto

() (FRA:M5BQ) () has amended its bought deal financing with Canaccord Genuity Corp hours after the initial deal was announced, doubling its gross proceeds to C$20 million. 

The company upped the number of units offered to 57.2 million from roughly 29 million.

Each unit includes one common share and one purchase warrant, and each warrant entitles its holder to acquire another share at an exercise price of C$0.47 for a period of 36 months after the offering closes. 

READ: Namaste Technologies advances US expansion plans by selling hemp CBD through CannMart.com by collaborating with PeakBirch Logic

The company expects the offering to close on or about January 19, The agreement remains subject to approval from the TSX Venture Exchange.

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Namaste Technologies bolsters working capital with C$10.1M bought deal financing

Canaccord Genuity Corp, on behalf of a syndicate of underwriters, agreed to purchase 29 million units in the capital of the company at a price of C$0.35 per unit

Namaste is a cannabis-focused ecommerce technology company based in Toronto

Namaste Technologies Inc (CVE:N) (FRA:M5BQ) (OTCMKTS:NXTTF) reached an agreement on a bought deal financing worth more than C$10.1 million, the cannabis company announced after the close Thursday. 

Canaccord Genuity Corp, on behalf of a syndicate of underwriters, agreed to purchase 29 million units in the capital of the company at a price of C$0.35 per unit. 

Each unit includes one common share and one purchase warrant, and each warrant entitles its holder to acquire another share at an exercise price of C$0.47 for a period of 36 months after the offering closes. 

READ: Namaste Technologies advances US expansion plans by selling hemp CBD through CannMart.com by collaborating with PeakBirch Logic

The company expects the offering to close on or about January 19, The agreement remains subject to approval from the TSX Venture Exchange.

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Namaste Technologies advances US expansion plans by selling hemp CBD through CannMart.com by collaborating with PeakBirch Logic

The cannabis-focused, e-commerce tech company, said it “looks forward” to leveraging VendorLink, it's marketplace technology, in collaboration with PeakBirch Logic

PeakBirch CEO Marc Mulvaney said the company is “delighted” to collaborate with Namaste and join their VendorLink platform to offer hemp derived CBD in the US at CannMart.com

 () () (FRA:M5BQ) revealed on Thursday that it has further expanded into the US through CannMart.com with sales of hemp-derived CBD.

In a statement, the Toronto-based cannabis-focused, e-commerce technology company, said it “looks forward” to leveraging VendorLink, its marketplace technology, in collaboration with e-commerce technology group PeakBirch Logic Inc. 

The company previously announced through an appropriate affiliate, the sale of accessories permissible under applicable US state laws. “The announcement of this further expansion in the US underscores Namaste's intention to increase its total addressable market and exploration into other verticals as regulation evolves,” said Namaste.

READ: Namaste Technologies is in discussions with DankStop to enter the US market

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Namaste Technologies estimates a 100% surge in its 4Q revenue to $8 million

The company also said it expects its fiscal 2020 gross revenue to climb 59% year-over-year to approximately $27 million

Namaste Technologies says it is targeting continued revenue growth throughout 2021 while bringing higher-margin products to market

 () () (FRA:M5BQ) announced that it anticipates fourth quarter 2020 gross revenue of approximately $8 million, a 100% year-over-year increase, and a 21% rise from the $6.3 million it recorded during the third quarter of 2020.   

The company also said it expects its fiscal 2020 gross revenue, including cannabis revenue, to climb 59% year-over-year to approximately $27 million.  

“We are very pleased by the hard work of the team who doubled the revenue growth over the fourth quarter of 2019,” Namaste Technologies CEO Meni Morim said in a statement.

READ: Namaste Technologies looks to become the ‘Amazon of cannabis’ with its integrated, intelligent cannabis experience

He added: “We believe our preliminary results demonstrate the strength of our business during an inflection point within the industry. Namaste as an organization is relentlessly focussed on the execution of our strategy to become a leading global cannabis company.”

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Namaste Technologies is in discussions with DankStop to enter the US market

Namaste said its potential partnership with DankStop should allow it to expand to other verticals as well as adjacent complementary markets in the US

Namaste says its CannMart.com platform is planning to go live in the US by the end of the current fiscal quarter

 () () (FRA:M5BQ) said it is collaborating with online smoking supply retailer DankStop to enter the US market by leveraging CannMart.com’s proprietary VendorLink platform.

The Toronto-based company said that its online cannabis platform CannMart is targeting to go live in the US by the end of the current fiscal quarter.

Namaste noted that it plans to use this expansion as a beachhead into the US, beginning with the sale of accessories permissible under applicable state laws, while exploring expansion to other verticals as well as adjacent complementary markets.

“We applaud the US government's recent decision to support the removal of cannabis and cannabis resin for medical purposes from Schedule IV of the UN Single Convention on Narcotic Drugs of 1961, and we are very pleased to collaborate with the exceptional DankStop team, which has become one of the world's largest and fastest growing online smoking supply retailers,” said Namaste Technologies CEO Meni Morim in a statement.

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GlobeX Data gears up for SekurMessenger’s Latin America launch with Telcel, taking on WhatsApp for Business

CEO Alain Ghiai said its SekurMessenger was seeing a "surge in demand" with privacy becoming a global concern, and the new WhatsApp rules to share all users' data with Facebook

The advanced technology company is launching SekurMessenger, its Swiss-hosted encrypted instant messaging, secure voice recording transfer and secure file transfer application, with Telcel, telecom heavyweight América Móvil SAB’s Mexico mobile division

Ltd () (), the cybersecurity and privacy solutions provider, revealed on Tuesday that it has completed all testing related to SekurMessenger as it gears up for its commercial launch in January in Latin America. 

The advanced technology company will launch SekurMessenger, its Swiss-hosted encrypted instant messaging, secure voice recording transfer and secure file transfer application, with Telcel, telecom heavyweight América Móvil SAB’s Mexico mobile division.  

“The secure messaging service has been fully integrated with Telcel’s billing and provisioning platform and the commercial launch is expected to start later this month,” said the company.  The launch will start in Mexico and expand to other countries where America Movil operates through its Claro brand, such as Colombia and other Latin American countries.

READ: GlobeX Data provides Sekur.com in Spanish as it gears up for launch in Latin America and Spain in early 2021

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Namaste Technologies launches its new recreational cannabis brand ‘Roilty’

Roilty’, its consumer-focused Cannabis 2.0 product, will be positioned as a high-end, accessible mainstream brand

Namaste Technologies says it sees increasing demand for additional Cannabis 2.0 products with a strong value proposition

 () () (FRA:M5BQ) announced that it has launched its Cannabis 2.0, consumer-focused recreational house brand, ‘Roilty’ through its wholly-owned subsidiary CannMart Inc.

Namaste said Roilty will be positioned as a high-end, accessible mainstream brand and CannMart will launch new products such as live resin targeted to be available in February, followed by rosin, shatter, crumble and wax in successive quarters.

“We are excited for the launch of our in-house brand ‘Roilty’ as we see an increasing demand for additional 2.0 products with a strong value proposition,” said Namaste Technologies CEO Meni Morim in a statement.

READ: Namaste Technologies looks to become the ‘Amazon of cannabis’ with its integrated, intelligent cannabis experience 

He added:  “We are working hard towards receiving our processing licence from Health Canada and look forward to producing our in house branded Cannabis 2.0 products, for our medical channel customers at CannMart.com and recreational consumers across Canada through our network of provincial sales partners.”

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Namaste wraps up acquisition of the final stake in CannMart Labs, reports increase in cyber weekend sales

The company said its average order value over cyber weekend increased 42% and online traffic increased 50% from 2019

Namaste bought the stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of C$4 million as well as revenue-dependent earn-out payments

() (FRA:M5BQ) () announced Thursday that it has completed its acquisition of the remaining 49% interest in CannMart Labs Inc, making the cannabis extractor a wholly owned subsidiary.

CannMart has filed an application for a processing licence under the Cannabis Act in Canada for cannabis extraction activities, the company said.

Namaste bought the stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of C$4 million as well as revenue-dependent earn-out payments in Namaste common shares, the company said. 

READ: Namaste strikes share purchase agreement to acquire remaining 49% interest in CannMart Labs for full ownership

The earn-out payments are payable over nine fiscal quarters with a maximum payment of C$1.9 million per period. In lieu of shares, the price can be paid in cash at a 5% discount. A first tranche of C$1.6 million has been paid by way of the issuance of 7.1 million shares at a price of C$0.2258.

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Namaste wraps up acquisition of the final stake in CannMart Labs, reports surge in cyber weekend sales

The company said its average order value over cyber weekend increased 42% and online traffic increased 50% from 2019

Namaste bought the stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of C$4 million as well as revenue-dependent earn-out payments

() (FRA:M5BQ) () announced Thursday that it has completed its acquisition of the remaining 49% interest in CannMart Labs Inc, making the cannabis extractor a wholly owned subsidiary.

CannMart has filed an application for a processing licence under the Cannabis Act in Canada for cannabis extraction activities, the company said.

Namaste bought the stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of C$4 million as well as revenue-dependent earn-out payments in Namaste common shares, the company said. 

READ: Namaste strikes share purchase agreement to acquire remaining 49% interest in CannMart Labs for full ownership

The earn-out payments are payable over nine fiscal quarters with a maximum payment of C$1.9 million per period. In lieu of shares, the price can be paid in cash at a 5% discount. A first tranche of C$1.6 million has been paid by way of the issuance of 7.1 million shares at a price of C$0.2258.

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Namaste acquires the remaining 49% of CannMart Labs as the company looks to produce 2.0 products

Namaste (CVE: N- OTC: NXTTF) CEO Meni Morim joined Steve Darling from Proactive with news the company has acquired the remaining 49% of CannMart Labs. That now allows Namaste to start manufacturing their own 2.0 products.

Morim discusses the process that will take, as they wait on Health Canada. He also shared details about their new commitment to keep shareholders better informed.

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Namaste strikes share purchase agreement to acquire remaining 49% interest in CannMart Labs for full ownership

Under the terms of the proposed transaction, Namaste will acquire the remaining stake from MKD Holdings and JLLS Holdings in exchange for $4,034,000

CannMart Labs' facility in Ontario has been completed for BHO extraction, making it one of only a few facilities in Canada with such capabilities

() () (FRA:M5BQ) has entered into a share purchase agreement to acquire the remaining 49% interest in CannMart Labs Inc for full ownership of the cannabis extractor.  

Under the terms of the proposed transaction, it will acquire the remaining stake from MKD Holdings Inc and JLLS Holdings Inc in exchange for a purchase price of $4,034,000, Namaste said in a statement Wednesday.

The company noted that CannMart Labs facility in Ontario has been completed for BHO (butane hash oil) extraction using leading extraction technology, making it one of only a few facilities in Canada with such capabilities. The lab’s application is in the final phase for a processing license from Health Canada. 

READ: Namaste Technologies posts C$5.6M in 3Q revenue on the back of online cannabis platform CannMart

CannMart Labs is set to produce in-house branded Cannabis 2.0 products for medical channel customers at CannMart.com and recreational customers across Canada through sister company CannMart Inc.'s network of provincial sales partners. Cannabis 2.0 products initially planned include shatter and live resin with capabilities to expand future distillate product offerings to vape cartridges, gel capsules, tinctures, and edibles.

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NA Proactive news snapshot: Alpine 4, KULR Technology, TRACON Pharmaceuticals, Silvercorp Metals, Ideanomics, Esports Entertainment UPDATE ...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Alpine 4 Technologies Ltd (), a technology holding company that provides electronic contract manufacturing solutions, posted third-quarter results on Monday that saw its revenue jump 23% year-over-year driven by strong sales from its subsidiaries. For the period ended September 30, 2020, the Phoenix, Arizona-based group reported revenue of $8.72 million, bringing the group’s total revenue for the first three quarters this year to around $26.6 million. Alpine 4 has business ventures in automotive technologies, electronics manufacturing, fabrication technologies and clean energy solutions.

KULR Technology Group Inc (), citing a strong balance sheet and available cash, said Friday that it expects the incoming US administration to accelerate a transition to clean energy, “providing a tailwind” for the firm’s products, solutions, and services. The San Diego, California-based company said it had increased its cash balance by over $2 million to $2,809,656 at the end of September, compared to $767,906 on June 30, 2020. The firm raised $2,300,000 of gross proceeds through the issuance of notes payable, of which $375,000 was subsequently repaid. It also raised $1,395,000 of gross proceeds through the issuance of common stock.

Inc () revealed on Monday that its corporate partners, Alphamab Oncology and 3D Medicines, have submitted a new drug application (NDA) for the approval of envafolimab (KN035) in the indication of MSI-H/dMMR cancer to the National Medical Products Administration (NMPA), in China. “We congratulate our partners on the regulatory submission of data from the registration trial of envafolimab in MSI-H/dMMR advanced solid tumors including colorectal and gastric cancer, which marks an important milestone in the development and potential commercialization of the program,” TRACON Pharmaceuticals CEO Charles Theuer said in a statament. “The submission for approval highlights the advanced status of envafolimab product development,” he added.

() (NYSEAMERICAN:SVM) Monday reported that it has discovered new gold zones from recent drilling at the LMW mine in the Ying Mining District of China’s Henan Province. Results included a 1.9 metre interval grading 37.1 grams per tonne (g/t) gold and 4 g/t silver, as well as a 6.1 m interval grading 5.2 g/t and 30 g/t silver.

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NA Proactive news snapshot: Endeavour Mining, Steppe Gold, GlobeX Data, Q BioMed, Tetra Bio-Pharma, Innocan Pharma, Helix Technologies UPDATE...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Endeavour Mining Corporation () is acquiring West Africa-focused gold miner Teranga Gold Corporation () (OTCQX:TGCDF) in a C$2.4 billion deal to form a top 10 gold producer. The news confirms speculation last week that Endeavour would buy Teranga, a low cost, mid-tier gold producer with two producing gold mines in Burkina Faso and Senegal to complement Endeavour’s six gold mines in West Africa. Once the deal is finalized, the combined company will boost its gold production to more than 1.5 million ounces per year and boast one of the largest exploration portfolios throughout West Africa’s Birimian greenstone belt.

() Monday reported 3Q financial results from operations at its ATO Gold Mine in Mongolia, which included cash flow of US$12.7 million and cash reserves of more than US$37 million. The company recorded revenue for the quarter of US$19.4 million with All in Sustaining Costs (AISC) of US$794 per gold ounce sold. Adjusted EBITDA for the period was US$9.9 million, as 11,352 gold ounces and 6,553 silver ounces were sold following 207,663 tonnes of ore processed with an average gold grade of 2.2 grams per tonne (g/t) and an average silver grade of 8.5 g/t. 

Ltd () (), the cybersecurity and Internet privacy specialist, has inked a deal with SYNNEX Canada Limited, the subsidiary of Fortune 200 firm SYNNEX Corporation (NYSE:SNX), to distribute GlobeX's Sekur solution through the group's 11,000 resellers in Canada. Significantly, SYNNEX Canada estimates that between 5% and 15% of its resellers would resell Sekur, meaning of 11,000 resellers, between 550 and 1,650 would be selling GlobeX's security solutions.

Q BioMed Inc () announced Monday that it has received a US patent for its Uttrocide-B molecule as a potential liver cancer treatment. The company has the exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an autonomous institute under the Department of Biotechnology, Government of India and the Oklahoma Medical Research Foundation. Q BioMed said the method of use for the patent —  titled "Uttroside-B and Derivatives Thereof as Therapeutics for Hepatocellular Carcinoma” — covers the use of a novel pharmaceutical for the treatment of hepatocellular carcinoma. International and additional US claims are currently under prosecution for the technology which addresses a severe unmet need for a safe and effective drug to treat hepatocellular carcinoma (HCC), the most common form of liver cancer, the company added. In a statement, CEO Denis Corin said the patent win comes as the company starts scaling up manufacturing and preparing Uttroside-B for an investigational new drug (IND) application with the US Food and Drug Administration.

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