Argent BioPharma (ASX:RGT) has entered a binding agreement with AusCann Group (ASX:ACN) to acquire AusCann's 48% equity interest in CannPal for $2 million in Argent shares at 10 cents per share.
The streamlined transaction replaces the broader non-binding term sheet announced on Aug. 19, 2025 and excludes AusCann's equity in EuroCann, a European GMP-certified cannabis manufacturer.
The acquisition is expected to accelerate Argent’s flagship cannabinoid therapy, CannEpil, by providing immediate access to validated preclinical and clinical data, supporting regulatory submissions and early-access programs in Europe and potentially other markets.
The agreement also includes an option to acquire the Neuvis oral drug-delivery platform, offering enhanced formulation capabilities for CannEpil and CimetrA, with potential patent protection through 2038+.