TW Holdings Ltd (ASX:TWH) is in the process of a reverse takeover over of AusCann Group Holdings Ltd for 100% of the issued capital.
AusCann was established in 2014 to bring together a team of executives focused upon building an Australian-based, globally connected medicinal cannabis company.
Earlier in the month the company sealed a strategic partnership with one of the world's largest medicinal cannabis companies, Canopy Growth Corporation (CGC).
AusCann continues to build its strategic relationships, and has now entered a five year research alliance with the Murdoch University.
The alliance is intended to lead to the development of projects in the field of medicinal cannabis.
Elaine Darby, chief executive for AusCann, commented: "We are particularly proud to have Murdoch University as a partner, given their research into plant breeding is truly world renowned."
There have been recent changes to the Narcotics Drug Act, which have provided a pathway to permit cannabis for medicinal product manufacture, to be grown in Australia.
Under the current agreement Murdoch University will not receive any profits from the outcome of the research activities.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.