First medical marijuana company on ASX - Phytotech listed on 22 January 2015 and closed on first day with doubling its IPO price of 20c. And the price has already quadrupled by the second day.
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PhytoTech Medical Limited (ASX:PYL) First Medical Cannabis Company to List on the Australian Stock Exchange
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PYL Share price chart on yahoo
Highlights ( from ABN Newswire)
- Led by a highly qualified, specialised and experienced medical and corporate team
- First medical grade cannabis company to list on the ASX
- Successful completion of $5.9 Million capital raised, significantly oversubscribed
- Partnership in place with leading Israeli research institute, Yissum, to develop advanced cannabis based therapeutics products
- Track record for Yissum's technology and product development considered second to none in the pharmaceutical market
- PhytoTech well positioned to become the leading Australian Medical Grade Cannabis (MGC) company
About PhytoTech Medical Limited
PhytoTech Medical (ASX:PYL) is a medical cannabis company, which aims to commercialize Medical Grade Cannabis (MGC) and high potential cannabis based therapeutics products to the rapidly growing international market with regulated medical cannabis legislation. With research facilities located in Israel, a global leader in medical cannabis research, the Company is strategically positioned to become a key player in the global MGC market.
The Company is focused on the research, development and commercialization of products for administering MGC, and on new treatments utilizing MGC therapeutic components for various medical conditions. In addition, the Company aims to grow proprietary strains of MGC in California, Uruguay and other jurisdictions.
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