The investment represents a strategic capital allocation aligned with Splash's previously announced transformation into a cannabinoid-based health, wellness, and healthcare-focused platform company.
Splash believes Avicanna has assembled one of the most sophisticated cannabinoid healthcare platforms operating today and is uniquely positioned for the continued evolution of the medical cannabinoid market in the United States.
"Avicanna has spent years building many of the capabilities we believe will define the future of cannabinoid medicine," said Brady Cobb, Interim Chief Executive Officer of Splash Beverage Group. "As we evaluated opportunities across the sector, Avicanna stood out because of its combination of intellectual property, product portfolio, clinical development, healthcare-system integration, managing health insurance filings and integration, pharmaceutical expertise, and operational execution."
Splash's investment thesis is supported by several attributes that management believes distinguish Avicanna within the cannabinoid sector:
One of North America's leading cannabinoid-based biopharmaceutical companies with proprietary formulations and clinical-stage pharmaceutical assets;
A commercial-stage pharmaceutical portfolio that includes Trunerox™, an approved cannabidiol treatment for severe epilepsy indications, and multiple clinical development programs targeting pain, inflammation, ...
