Phytoplant Research SL enters the capital of VivaCell Biotechnology Spain SL, consolidating its cannabinoid research network in Spain
Posted on December 12, 2012
Phytoplant Research SL, a biotechnology company based in Córdoba that specialized in the development of the industrial chain of medicinal plants, has entered the capital of VivaCell Biotechnology Spain SL by subscribing a capital increase of the company. In addition, as part of the same operation, Phytoplant has also entered the Board of Vivacell.
VivaCell successfully closes its first round of capital that will allow it to complete the preclinical development of VCE-003 (Multiple Sclerosis) and CDE-001 (Atopic Dermatitis) and enter clinical phase in the first quarter of 2015.
Notably, Phytoplant and VivaCell together will be leading a structured network for research on the therapeutic use of cannabinoids. With this transaction, both companies strengthen their collaboration agreement for the development of new medicinal varieties of Cannabis sativa, as presented at the Thirteenth Annual Meeting of the SEIC (Spanish Society for Research on Cannabinoids) held in Madrid in early December.
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VivaCell Biotechnology España S.L.