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Relevium to spin out pediatric medical cannabis unit Biocannabix

Relevium Technologies Inc. plans to spin out its pediatric medical cannabis unit Biocannabix Health Corp. into a new publicly traded company.

The new independent company will focus on developing pharmaceuticals for pediatric conditions, with operations in both Canada and Colombia. Biocannabix will be able to raise capital for itself through the capital markets to fund growth, Relevium said in a Sept. 19 press release.

Approval of the spin-out remains subject to the board of directors, shareholders and the exchange.

Biocannabix is based in Montreal.