Cannabis M&A: Fyllo Acquires CannaRegs, Jay Pharma Reverse Merges With Ameri Holdings
Jay Pharma, an evidence-based pharmaceutical cannabinoid and wellness company focused on cancer, announced last week a reverse merger with Ameri Holdings Inc (NASDAQ:AMRH). The merger will allow Jay Pharma to expand its body of research and execute on its plans to bring oncology clinicians and researchers together with academic and industry partners to enhance clinically proven products to patients.
“In a market that is highly underdeveloped with little clinical data, Jay Pharma stands apart as the only developer of cannabinoid-based therapies exclusively focused on the needs of cancer patients. We are uniquely situated to establish a durable leadership position in a market with explosive growth potential,” said Dave Johnson, Chairman and CEO-elect of Jay Pharma.
“Our proposed merger with Ameri Holdings will enable us to support the development of our pipeline of novel cannabinoid combination therapies for hard-to-treat cancers, including glioblastoma multiforme, and, upon completion, provide us increased visibility, greater access to capital, a broader investor base and, ultimately, help us implement our growth initiatives and unlock shareholder value in both the near- and long-term."
On Friday, cannabis martech company Fyllo announced it acquired CannaRegs, a tech platform that gives access to all state and municipal cannabis rules and regulations. This helps Fyllo further streamlining creative compliance for cannabis, hemp and CBD companies looking to scale their advertising nationally, state-wide, and/or regionally.
The acquisition was made to help further develop the company’s platform by integrating CannaRegs’ proprietary data in into Fyllo’s unique AI engine, CannaBrain.
CannaBrain, which uses machine learning algorithms to aggregate trusted, fact-based data about cannabis guidelines, allows brands in the cannabis industry to build and execute advertising campaigns, and also enables publishers to create and monetize compliant ad inventory. Fyllo will onboard 150+ CannaRegs customers and CannaRegs’ 30 employees will continue to operate out of its Denver offices.
Chad Bronstein, founder and CEO of Fyllo, told Benzinga, “In the ever-growing cannabis space, companies are looking to scale their businesses quickly, and digital advertising is the industry’s clear pathway to growth. However, with complicated and ever-changing regulations around what is and is not complaint, brands need to have confidence that their ad creatives are not only reaching the right audiences, but also meeting state-by-state and market-by-market compliance requirements…. This acquisition helps us gain a significant competitive advantage to grow our company, and by joining forces with the most seasoned and knowledgeable cannabis compliance experts, it will help generate even more revenue opportunities for our clients.”
Lead image by Ilona Szentivanyi. Copyright: Benzinga.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.