Medical Cannabis Company Together Pharma to Expand Into China
An unidentified Chinese corporation has invested $1 million in Tel Aviv-listed Together Pharma; the two companies will set up a joint 20,000-square-meter cannabis farm in China
Tzally Greenberg : 2019-07-24T13:06:19..
An unidentified Chinese corporation has invested $1 million in Tel Aviv-listed Together Pharma Ltd., a company focused on growing, exporting, and distributing medical cannabis, the latter announced Wednesday. As part of the deal, the two companies will establish a joint 20,000-square-meter cannabis farm in China. Together Pharma will provide its expertise in growing and processing medical cannabis products and the unnamed Chinese company will pay the full cost of setting up the new facility, Together said.
Together Pharma is the product of a 2017 merger between Tel Aviv-listed shelf company Together Startup Network Ltd. and Globus Pharma, an Israel-based company that has received highly sought-after government permits required for growing and marketing medical marijuana in the country. In a July 2018 announcement, Together Pharma said it was setting up a skincare subsidiary in partnership with Israeli cosmetics and skincare company Premier Dead Sea Cosmetics Laboratories. Last month, Together acquired Jerusalem-based Cannabalis Ltd. for $3.9 million.