US-based 22nd Century Group has acquired privately held UK cannabinoid distributor RX Pharmatech (RXP) for an up-front payment of $650,000 in cash and stock and a three-year equity earn-out based on revenue milestones.
A 22nd Century spokesperson told CannIntelligence that this agreement between global-scale speciality ingredient supplier GVB Biopharma and the UK cannabis distributor aims to expand the company’s access to the European market, particularly with the novel foods applications RXP has secured.
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.
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