Zelira Therapeutics confirmed its acquisition of Ilera Therapeutics is now complete following approval from Zelira shareholders.
Zelira Therapeutics, (ASX:ZLD,OTCQB:ZLDAF), formerly Zelda Therapeutics, confirmed the completion of its acquisition of Ilera Therapeutics following approval from Zelira shareholders.
As quoted in the press release:
The merger between Zelda Therapeutics Limited and Ilera Therapeutics LLC will create a global medicinal cannabis company, which will be renamed Zelira Therapeutics Limited (“Zelira”). The merger brings together a portfolio of revenue generating medicines and products undergoing clinical development that are expected to enter the market from 2020. Zelira’s disruptive ‘launch, learn and develop’ model will be deployed to rapidly commercialise products targeting large addressable markets such as pain, sleep and anxiety. With operations in Australia and the USA, Zelira will have a strong platform to access global medicinal cannabis markets. The Company will have direct access to the USA, the world’s largest medicinal cannabis market, with over four million registered patients, as well as other markets including Australia, Germany and the United Kingdom.