After rigorous review with Health Canada, we are thrilled to have successfully completed this process. Commonly referred to as "a sales amendment", this application was submitted on August 29, 2021. (CSE:MLCL) (OTC: EVRRF) (" Molecule " or the " Company "), a Canadian craft-focused cannabis beverage production company, is pleased to announce that they have received the amendment to their Health Canada processing license, authorizing the activity of sale of cannabis extracts, beverages, edibles, and topical products. Ottawa, ON – TheNewswire - Ap– Molecule Holdings Inc. Source: January 2022 Corporate Slide Deck
Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. Please visit our website for additional information on Zacks SCR.ĭISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. We maintain our valuation of $0.60 per share. Two MTA's that were signed earlier in 2021 may yield additional agreements (likely with associated upfront payments) to add to Bioasis' pipeline. We anticipate parallel development of several xB 3 compounds that will enter the clinic over the next several years. While transportation, COVID and material availability related issues have delayed work, we anticipate a slowdown to the company's timeline and one dependent on partner capacity. However, no material decisions have been made.īioasis offers a broad portfolio built on its xB 3 technology platform that can be developed both internally and with partners for many therapies demonstrating brain activity. Bioasis is also considering strategic alternatives and has reviewed some potential opportunities with several of its partners. While expected timing was not disclosed, the parties have developed a research plan which, if successful could lead to additional work.
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Bioasis will conduct the work on behalf of Janssen in a cost plus type arrangement. The agreement will provide xB 3 to Janssen for development purposes.
The common shares issued pursuant to the private placement are subject to a four month hold period in accordance with applicable securities laws.īioasis shared a welcome surprise with investors with its Janssen Biotech collaboration deal. On FebruBioasis announced that it had raised $200,000 in a non-brokered private placement, issuing 770,000 common shares to an arm's length investor for $0.26 per share. ➢ Additional research agreements with partners related to signed MTA – 2022 ➢ Filing of FY:22 financials – mid-June 2022 ➢ Attendance at the 5 th Annual Neuroscience Innovation Forum – March 2022 ➢ $200,000 non-brokered private placement – February 2022 ➢ xB 3-009 (Progranulin) BBB data – 1H:22 ➢ xB 3-007 glucocerebrosidase enzyme replacement therapy (ERT), BBB data – 1H:22 Other strategic efforts by Bioasis include the execution of two outstanding Material Transfer Agreements (MTAs), further draws on the Lind agreement or transactions with partners.īelow are recent and anticipated milestones: The company is also working with Shadow Lake Group which serves as its business development advisor to identify new business opportunities and partnering. Since the announcement the plan with Ladenburg has proceeded and Bioasis management is actively reviewing opportunities however, there are no events yet worthy of a press release. Alternatives that may be pursued include potential accretive merger or acquisition opportunities and future financings.
The financial structure is a cost reimbursement plus margin arrangement with timing of the work to follow the research plan.ĭuring its Annual General Meeting (AGM) last November, Bioasis elected to evaluate strategic alternatives with the help of Ladenburg Thalmann. Representatives from both companies will have the opportunity for regular project team meetings to remain aligned with the research plan negotiated as part the agreement. Few details were provided regarding the arrangement however, any intellectual property generated from the work will be available to Bioasis.
As part of the deal, Bioasis will provide access to its xB 3 platform to Janssen in order for the latter to research, develop and commercialize new products. (OTC: BIOAF) announced a research collaboration with Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson (NYSE: JNJ). On April 11 th, Bioasis Technologies Inc.
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