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Botanix Pharmaceuticals Limited
Drug Names(s): BTX1503, BTX 1503
Description: BTX1503 contains cannabidiol as an active ingredient. Cannabidiol (CBD) has a novel 4-part mechanism in reducing excessive production of oils, inhibiting over-proliferation of oil producing cells, inhibiting bacteria and providing a novel anti-inflammatory effect.
Deal Structure: In March 2013, Bone Medical announced it has signed an agreement to acquire Botanix Pharmaceuticals, Inc. In June 2016, Bone Medical announced that the Prospectus Offer for the acquisition of Botanix Pharmaceuticals has closed and a shareholder meeting was held where existing shareholders approved the acquisition of Botanix Pharmaceuticals, including the resolution to change the name of the company to Botanix Pharmaceuticals Limited.
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