Labat Africa Acquires Biodata.
Labat Africa is a company that invests in various sectors of the economy in Africa. The company is trying to get hold of a space in biodata, a Company that focuses on technology and medical research on the sector of cannabis.
Labat is said to have been targeting 70% of biodata that make it get hold of its feet and be stronger in the world of cannabis. The 70% share of biodata that Labat Africa is said to have been targeting, is said to be the equivalent of R27bn.
According to Labat, biodata will now be concentrating much on being pain management and insomnia. Biodata was known for its ability to incorporate cannabinoids and as an enterprise.
Labat also added that, when it comes to health care strategies, the acquisition provided by biodata will strengthen the ability of Labat in terms of medical and pharmaceutical infrastructure. Labat will also be receiving a helping hand from Gallow and her team which will make an effort to provide them with expertise and value to them.
“The proposed acquisition of Biodata provides Labat Africa with additional medical and pharmaceutical infrastructure in support of its health-care strategy. Gallow and her team will also provide expertise and value to Labat Africa’s endeavors to developing the company’s drug master files for the selected alkaloid active ingredients,” said, Labat.
Labat earlier on made an acquisition of Zarenka group in Lesotho in 2019 and that was when they got the chance to venture into cannabis and was as well the first in Africa to do such. with that opportunity, Labat was able to fully establish a cannabis business and they intended to gain strong roots in the world of cannabis.
The company, (Labat) disclosed how pleased they are to bring on board such leading experts to the world of cannabis and these experts are committed to growing the business.
“Labat Africa is pleased to welcome on-board a group of leading experts in the cannabis industry who are committed to ensuring SA takes its rightful place on the world stage in the field of cannabis innovation and scientific excellence.”