JSE-listed Labat Africa set to acquire 70% stake in cannabis company

Posted on: 15 April, 2020 at 5:43 PM

Johannesburg Stock Exchange-listed investment holding company Labat Africa is set to acquire a 70% stake in BioData, a South African science and medical research company focused on the cannabis industry.

BioData was initially set up as a holistic healing enterprise incorporating cannabinoid healing. The company is currently well-positioned to commence with formalised clinical trials focused on pain management and insomnia.

BioData is based in East London and headed up by Dr Shiksha Gallow. Dr Gallow is registered with the Health Professions Council of South Africa (HPCSA) in clinical pathology as a medical scientist and holds various degrees in public health medicines as well as in business.

The company is supported by a team of researchers, doctors and scientists both locally and abroad who will be working with local academic institutions to further Dr Gallow’s clinical investigations.

The acquisition of the business will be financed by way of the issue of shares in Labat Africa.

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