Last week ASX-listed Zelira Therapeutics, formerly Zelda Therapeutics, scored a new substantial shareholder when billionaire investor Alex Waislitz’s Thorney Investment Group upped its stake from 2 per cent to 5.2 per cent.
Earlier this month Zelira confirmed its cannabinoid insomnia medicine Zenivol had been made available in Australia under the nation’s special access scheme for cannabis products.
Thorney bumped its stake after a private placement of 37 million shares at 5.4c each.
“The strategic focus on intellectual property protection, together with its capital light business model we believe positions the company strongly as it commences revenue generation,” Mr Waislitz said.
Meanwhile, former Ellerston Capital chief executive Glenn Poswell has seen opportunity in fellow pot play Incannex, which is aiming for FDA approvals for its cannabis based products.
Incannex is progressing trials for its major research programs and is hopeful of soon being able to show one of its flagship…
Original Author Link click here to read complete story..