UK-based Apollon Formularies and Global Hemp Group (GHG) have signed a Letter of Intent GHG will acquire the exclusive perpetual license for North America to certain Apollon Intellectual Property and proprietary technology.
This will include four key patents, along with any and all associated preclinical and clinical data relating to the patents and proprietary technology (IP).
The patents cover compositions and Methods for Treatment of Cancers; compositions and Methods for Treatment of Inflammation; Methods for Treatment of Human Cancers Using Cannabis Compositions; and Methods for Treatment of Human Cancers Using Mushroom Compositions.
Read more: Apollon to acquire world-class research and production facility in Jamaica
The company has also been granted a 60-day option to conduct due diligence, following which GHG may exercise its option to acquire the entirety of Apollon’s global assets.
Chairman and CEO of Apollon, Stephen D. Barnhill, MD, commented: “I am extremely pleased that GHG has the confidence in Apollon’s intellectual property, including natural biologic formulations utilising medical cannabis, functional mushrooms, psychedelic mushrooms and combinations of these compounds together, to secure an Exclusive License to provide these formulations, under individual sublicensing agreements, to legal producers in the United States, Canada and Mexico.
“This partnership allows Apollon formulations to be made available to patients in all of North America, which is the largest market globally for these natural treatments.
“I believe that Apollon’s patents, protecting the unique combinations of medical cannabis compounds combined with functional and psychedelic mushroom compounds, which have been shown to increase the therapeutic efficacy of these compounds when used together vs individually, represent the future of natural combination therapeutics.”
In order to assist GHG in monetising the IP into an ongoing revenue stream, the company has engaged Dr Stephen D. Barnhill, creator of the IP and Chairman & CEO of Apollon, as Special Medical Advisor (“SMA”) to the Company.
President and CEO of Global Hemp Group, Curt Huber, added: “I would like to take this opportunity to welcome Dr Barnhill to the GHG team as Special Medical Advisor.
“In addition to being a successful private and public company CEO, he has had an impressive medical career with significant accomplishments, including being an inventor on more than 80 award-winning international patents primarily related to artificial intelligence-based discovery in cancer diagnostics and therapeutics.
“Dr Barnhill is also the inventor of the Apollon patents, which are included in the GHG Exclusive Perpetual North American License of Apollon’s Intellectual Property, which will be a great addition to the existing IP that the Company is creating through its R&D division.
“I truly look forward to working with Stephen as we embark on immediately monetising the unique IP we are licensing for North America in this transaction, as Apollon, as a company listed on the Aquis Exchange, was unable to enter these markets due to jurisdictional constraints. For these same reasons, US investors were unable to invest in Apollon, but will now be able to consider investment opportunities in this incredible and unique intellectual property through GHG.”
