PreveCeutical Medical Inc (CNSX:PREV), the health sciences group with a focus on natural products, outlined its several recent milestones as it updated on operations.
One was a deal this month with Asterion Cannabis Inc, which gives it the licence to use, manufacture, distribute and sell three Health Canada-approved natural health products, it said.
Preveceutical has also launched a medicinal cannabis division; completed a C$6.5mln financing, and expanded its Australian operations.
There, it has reached all its research targets in its scorpion-venom-derived peptide program and the soluble gel (sol-gel) drug delivery platform program.
The proceeds of the financing will be used to finance the company's research and development (R&D) programs and for general working capital purposes.
The medicinal cannabis division will focus on bringing medicinal cannabis-based products developed by the company to market and overseeing the company's sol-gel program and its resultant formulations.
Through the sale of the medical cannabis products, the firm aims to help consumers address a number of ailments, including chronic pain, epilepsy, anxiety disorders and more.
Shares in PreveCeutical Medical stand at C$0.04 today (Friday).