PharmaDrug Inc., a leading speciality pharmaceutical company targeting the development, commercialisation and research of natural medicines, have entered a conclusive securities exchange agreement with Canurta Limited Partnership and its limited partners, said to be a parent entity of Canurta Inc. Canurta is a known novel botanical therapeutics for neurodegenerative and inflammatory diseases. This definitive agreement focuses on acquiring equity interest in Canurta Inc.
In this conclusive agreement, pharmaDrug will obtain around 40% equity interest in Canurta to be completed in two batches via the issuance of an estimated 83,645,316 common shares of pharmaDrug at a lesser price equal to the 20-day volume holding average price quickly before each closing transaction. On its first closing the pursuant to the conclusive agreement, pharmaDrug will obtain 8,109,987 limited partner units of Canurta embodying 20% of the outstanding LP units on or about 10th November 2025 in exchange for 25,980,000 PHRX shares.
On its second closing, the pharmaDrug will obtain 8,191,495 LP units symbolising 20% of the outstanding LP units on or before 31st January 2026 in exchange for 57,665,316 PHRX shares. The shares will be entitled to shareholder clearance pursuant to the Canadian Securities Exchange (CSE). Additionally, this definitive agreement also involves customary warranties and representations along with the recission right that will enable Canurta’s limited partners to get the return of their forwarded LP units if the said milestones are not achieved within the agreed timelines.
Under the transaction structure, Canurta will bring $85,000 to pharmaDrug at each closing by means of a forgivable promissory note holding interest at 12% per annum to contribute to working capital requirements. The completion is titled to customary closing conditions involving receipt and CSE approval of all needed regulatory and shareholder approvals.
The executive chairman of Pharmadrug, Dr. david Kideckel, said, “Stepping into this definitive agreement with Canurta heads us towards a key milestone in our strategy structure to further extend Pharmadrug’s biotechnology presence via creative botanical drug development. This collaboration improves our clinical portfolio and helps our objectives to accelerate long-term growth.”
The founder and CEO of Canurta, Akeem Gardner, said, “This deal represents our strong partnership with pharmaDrug to improve CNR-401 and other various streaming assets. We’re looking forward to elevating pharmaDrug’s local market platform to complement Canurta’s research and serving value for shareholders and patients.”
Mansi Kadam is a market research writer with over 3 years of experience analyzing trends in the healthcare industry. At Towards Healthcare, she covers innovations in medical sector, sustainability initiatives, and the evolving regulatory landscape.
