London—Dentons has advised Canada-based Canopy Growth Corporation on its acquisition of shares in global cannabinoid-based medical research company Beckley Canopy Therapeutics.

Beckley Canopy Therapeutics was formed as a joint venture in January 2018 between Beckley Research & Innovations and Canopy Growth to research and develop clinically validated cannabis-based medicines. Since its inception Beckley Canopy Therapeutics has made significant progress in three initial areas of research, namely cancer pain, opioid sparing and smoking cessation, with further research in progress.

Canopy Growth now owns 100% of the shares of Beckley Canopy Therapeutics, including the joint commercial venture Spectrum Biomedical UK, the commercial arm of Canopy Growth in the UK.

Francesca Bettermann, counsel in Dentons' UK Corporate team who led on the deal, said, "We are delighted to have advised Canopy Growth, one of the biggest cannabis companies in Canada, on this acquisition which solidifies Canopy Growth's status as a truly global leader in cannabinoid research."

Alongside Francesca, the Dentons team in London, Milton Keynes and Montreal advising on the deal included Corporate partner Nicholas Plant, and Tax partner James Meakin.

Earlier this year, Dentons advised Canopy Growth on its acquisition of skincare and well-being business This Works for £43 million.

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