Australia's Vitura Health up on JV with Canada biotech co

Vitura Health

02/05/2023 03:03

** Shares of Australia's Vitura Health Limited  VIT.AX  
rise as much as 16.2% to A$0.405, set to mark best day since
Feb. 13, if current gains hold 
    ** Stock hits highest since March 15 
    ** Medicinal cannabis co says VIT and Canadian-based
PharmAla Biotech  MDMA.CD  established a 50:50 joint venture
called Cortexa 
    ** Says Cortexa will be able to provide products for both
clinical use and clinical trials undertaken by academic and
commercial researchers
    ** Adds under the agreements, the benefit of any sale orders
for the products received by PharmAla to be supplied into
Australia have been transferred to Cortexa, ensuring that the
joint venture will generate revenue from the outset
    ** VIT has fallen 36.8% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))