Halifax-based Panag Pharma, which is making pain-relief products from natural compounds found in cannabis plants, has agreed to be bought for as much as $27 million by Ontario’s Tetra Bio-Pharma.
Based in the Ottawa suburb of Orleans, Tetra is a drug discovery company that specializes in developing treatments based on such compounds – known as cannabinoid-based drug discovery. The company, which is listed on the TSX Venture Exchange, said in a press release that the acquisition will allow Tetra to develop more natural healthcare products and sell them world wide.
The Panag Team – which is