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Open Book Extracts Acquires Chilmark Labs.

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M2 EQUITYBITES-June 16, 2020-Open Book Extracts Acquires Chilmark Labs

(C)2020 M2 COMMUNICATIONS http://www.m2.com

US-based cannabinoid products processor Open Book Extracts has signed definitive agreements to acquire Chilmark Labs and its Israeli affiliate, Beetlebung Pharma Ltd., the company said.

Open Book said the deal will bring a leadership position in the manufacturing of high-purity rare and minor cannabinoids.

Together, the merged companies will bring to market commercial-scale production of precise, consistently formulated custom cannabinoid blends, and spearhead research and development into the efficacy of custom formulations to deliver targeted therapeutic outcomes.

With research and production facilities located in Israel and the United States, Chilmark Labs has developed proven methods to efficiently manufacture rare cannabinoids from hemp and citrus, including CBN, CBC, THCV, and CBDV.

By making these previously unattainable rare cannabinoids more accessible, Chilmark Labs is unlocking new therapeutic possibilities and developing formulations to maximize the nutraceutical and pharmacological properties of rare cannabinoids.

Dr. Salzman joins Open Book Extracts as its chief science officer. Dr. Salzman grew up in Massachusetts, graduating from Yale College and Harvard Medical School, followed by a residency at Columbia University and postdoctoral fellowships at Beth Israel and Mass General.

He went on to establish and lead the Division of Critical Care Medicine at Children's Hospital Medical Center in Cincinnati, Ohio, and then turned to entrepreneurship with a series of successful drug discoveries. He has strong research relationships with universities in Israel and the United States and will lead Open Book Extracts' medical advisory board.

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