Zelda Therapeutics, an Australian-based biopharmaceutical company developing proprietary cannabinoid formulations to treat a variety of medical conditions, agreed to merge with Ilera Therapeutics, a privately held medicinal cannabis and cannabinoid science company based in the United States. Financial terms were not disclosed. The merger brings together long-term supply and distribution relationships with pharmaceutical-grade manufacturers in Europe (HAPA pharm BV via Zelda) and the USA (Ilera Healthcare and Ilera Holistic via Ilera) ensuring access to large scale quantities of pharmaceutical-grade medicinal cannabis to supply large and growing patient populations. "This is a transformational opportunity for both companies. The merger will create one of the world's leading medicinal cannabis companies with a rich pipeline of clinically validated products under development and unique access to the world's largest and fastest-growing cannabis markets. As markets for medicinal cannabis become increasingly regulated, our strategy of undertaking robust clinical trials to validate and differentiate our products is recognized as being at the forefront in this sector. The merger will enable the combined company to accelerate plans to disrupt the medicinal cannabis and pharmaceutical markets globally." Harry Karelis Zelda Chairman.