By Matt Lamers
Aphria is increasing its stake in the booming cannabinoid-based extracts market with an 11.5 million Canadian dollar ($9 million) investment in Scientus Pharma, a vertically integrated biopharmaceutical company.
Toronto-based Scientus Pharma conducts research and product development related to medical cannabinoids and their derivatives. The investment is in the form of senior, secured convertible debt.
Aphria (Toronto Stock Exchange: APH), based in Leamington, Ontario, said the investment also gives it access to Scientus’ so-called dealer’s license. The holder of such a license is permitted to buy, process and sell cannabinoid derivatives in international markets.
Canada’s medical marijuana market has