Deals this week: Medical Marijuana, Advaxis Inc, Tioma Therapeutics

18th August 2016 (Last Updated August 18th, 2016 18:30)

Medical Marijuana Inc and CannaNative LLC have entered a partnership to produce a cannabis product line and supply them to more than 560 US tribal nations.

Medical Marijuana Inc and CannaNative LLC have entered a partnership to produce a cannabis product line and supply them to more than 560 US tribal nations.

According to the agreement, Medical Marijuana and its subsidiary HempMeds will produce Cannabidol (CBD) products for the CannaNative branded line for Native American marketplace and distribute them to tribal wellness centres, doctors, offices, pharmacies and dispensaries.

The two companies expect that the partnership will contribute to the development of hemp and cannabis-based economies.

"Advaxis Inc has announced private placement of its 2.2m common stock shares to raise gross proceeds of $30.3m."

Advaxis Inc has announced private placement of its 2.2m common stock shares to raise gross proceeds of $30.3m.

The offering is expected to be completed by 19 August and will be subscribed to by healthcare institutional specialist investors.

Tioma Therapeutics has raised $86m in a series A venture financing round. RiverVest Venture Partners LLC, Novo Ventures (US) Inc, F. Hoffmann-La Roche Ltd and S.R. One Limited co-led the round.

The company plans to invest the funds to advance the clinical trials of its lead drug candidate, an anti-CD47 immune checkpoint inhibitor, and also to develop its antibody portfolio.