Phoenix Life Sciences, Inc., a private company within the healthcare and biotech industries, has announced that a Letter of Intent has been executed for the acquisition of Phoenix Bio Pharmaceuticals Corporation (Phoenix Bio Pharmaceuticals).
Phoenix Bio Pharmaceuticals is a privately held company with a focus on the research, development and commercialization of intellectual property assets. The current intellectual property portfolio consists of condition-specific formulations, multiple proprietary compounds, extraction technology, and delivery systems for medical cannabis products.
Phoenix Life Sciences recently announced that it had entered into agreement for merger with MediJane Holdings, Inc. (MJMD), a publicly traded corporation with the assistance of NMS Capital Advisors, LLC. (NMS Capital). NMS Capital is a registered broker dealer headquartered in Beverly Hills, California that's been appointed as MJMD's exclusive financial advisor. As part of this engagement NMS Capital has been advising MJMD on its current plans involving industry repositioning, expansion, acquisitions and a greater access to the capital markets.
The acquisition of Phoenix Bio Pharmaceuticals will help secure ownership of certain intellectual property assets, previously licensed by MJMD and further expands the intellectual property assets which can be utilized by Phoenix Life and its affiliates. Upon completion of this transaction, Phoenix Life will acquire a diverse cannabinoid and combination therapy intellectual property portfolio. Where viable, Phoenix Life intends to pursue United States patent registrations for certain of the intellectual property assets. Based on the current portfolio, this represents up to fifty (50) potential individual patent filings which will be designed to protect the intellectual property in the areas of extraction technology, proprietary compounds, and delivery systems.
The acquisition is designed to position Phoenix Life Sciences to lead the build out of United States domestic and international production and distribution facilities for disruptive healthcare solutions. Providing opportunities for partnerships in the evolving medical cannabis industries in the United States, but also in countries like Australia, Canada and Germany. Allowing doctors, pharmacies and other medical professionals to enhance patient care with dosing accuracy with a choice of delivery mechanisms.
Vince Coviello, president and chief investment officer of Phoenix Life said, "Gaining ownership of the intellectual property will give us greater leverage to open up doors and expand our capacity to bring cannabinoid oriented therapy to the patients who need it, both nationally and internationally as the regulatory frameworks open up."
"By being able to combine the companies into a single global player in the evolving healthcare industry, we are positioning ourselves to serve the growing interests of governments in advancing healthcare with the inclusion of medical cannabis programs; providing doctors with real solutions for patient dosing and delivery systems; and most importantly providing patients with safe and legal access to clinically proven plant based compounds, maximizing results and minimizing side effects," continued Coviello.