Pressure BioSciences Announces Plan to Acquire Cannaworx, Inc.
April 29, 2020
Pressure BioSciences signed a binding letter of intent to merge with Cannaworx, Inc., bringing Cannaworx's portfolio of hemp-derived CBD, cosmeceutical, nutraceutical and veterinary products into PBI's public company. Post-transaction, Cannaworx products are expected to utilize PBI's Ultra Shear Technology to create stable, highly bioabsorbable nanoemulsions and to accelerate product commercialization across consumer, veterinary and agricultural markets.
- Buyers
- Pressure BioSciences, Inc.
- Targets
- Cannaworx, Inc.
- Industry
- Biotechnology
- Location
- United States
- Transaction Type
- Buyout
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