Cann Group (ASX:CAN) has announced its received a $4.34M tax incentive rebate for the research and development of its medical cannabis products.

Cann?s CEO Peter Crock says: ?We continue to make ongoing strategic investments in scientific research and development, such as our Phase III clinical trial and accelerated plant breeding program. The R&D tax incentive program is a great enabler of this work, which directly benefits patients and shareholders.?

Cann also owns Satipharm, a Europe-based business exclusively licenced to manufacture, develop, and market the Gelpell delivery system for cannabinoids.

The company?s share price peaked at $0.28 this morning.