Canopy Growth Corporation is one of the largest Canadian cannabis companies and was the first publicly traded cannabis company in North America. The company markets medical marijuana products including dried flowers, oils, and hemp products. In October 2018, Canopy sent marijuana stocks soaring when it announced it had acquired the Colorado-based cannabinoid research company ebbu LLC for $25 million cash.
Canopy stated in a press release, “Intellectual Property (“IP”) and R&D advancements achieved by ebbu’s team apply directly to Canopy Growth’s hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities. In addition, ebbu’s IP portfolio will contribute to the clinical formulations program being executed by Canopy Health Innovations, a wholly owned subsidiary of the Company.”