Medical Marijuana-backed AXIM Biotechnologies completed the acquisition of Sapphire Biotech.

Medical Marijuana-backed AXIM Biotechnologies, a researcher, developer, and producer of cannabinoid-based pharmaceutical and nutraceutical products, completed the acquisition of Sapphire Biotech, an oncology research and development company. Financial terms were not disclosed. "Sapphire Biotech has already proven itself to have great potential in just the one year since its founding. We look forward to bringing them into our family of companies and helping them further their efforts in the field of oncology. It is very exciting to announce that Sapphire Biotech has both a diagnostic application as well as a promising oncology treatment in their arsenal. This acquisition marks a transformation of AXIM while aligning with the therapeutic cannabinoid analog space," Stuart Titus, Medical Marijuana CEO.