Argent BioPharma has signed a binding agreement to purchase the core operating assets and intellectual property (IP) held by AusCann Group Holdings.
Set to close in Q3 2025, the transaction covers AusCann's stake in self-emulsifying hard-shell capsule Neuvis, its interest in CannPal Animal Therapeutics, and its position in WA-based European firm ECC Pharm.
Argent said the acquisition bolsters its clinical pipeline and European commercial infrastructure, supports its plans for a dual listing in the US, and enhances its IP-driven revenue model.
Earlier this year, the two companies announced a heads of agreement under which AusCann would licence Argent's CannEpil drug and dossier for non-epilepsy conditions, while Argent would gain access to Neuvis along with its pharmacokinetic and pharmacodynamic data.
That announcement was the first to come from AusCann since the company was delisted from the Australian Securities Exchange in 2024.
The current deal covers AusCann's full ownership of Neuvis and its associated IP, a 48% shareholding in CannPal, and a 19.99% shareholding in ECC Pharm.
In exchange, Argent will issue AusCann 25,000,000 ordinary shares valued at US$15 million, based on a deemed price per share of US$0.60, pending shareholder approval.
Argent described the acquisition as "a significant milestone in the company's strategy to build a fully integrated, IP-led pharmaceutical platform with a global footprint".
The company added: "[Argent] will secure strategic interests in the Neuvis patented drug-delivery technology, gain access to a validated FDA-facing pre-clinical data package supporting CannEpil advancement, and benefit from scalable EU-GMP manufacturing and commercial infrastructure – each directly synergistic with Argent's lead products CannEpil and CimetrA.
"The acquisition materially advances Argent BioPharma toward meeting the key financial and qualitative criteria for the planned US national listing."
Upon completion of the deal, AusCann executive director Andrew Chapman will take a seat on the Argent board.
Argent managing director and CEO, Roby Zomer, said: "This transaction brings together clinically validated IP, EU commercial infrastructure, and manufacturing scale under one platform.
"It positions Argent to expand globally while strengthening our core pipeline."
Chapman added: "I know these assets well – and I've seen first-hand the value they unlock. From IP to revenue to regulatory readiness, this is a strategic acquisition that accelerates Argent's pathway to a successful dual national listing in the US."
