ATLANTA, June 25, 2019 /PRNewswire/ -- Surterra Wellness (Surterra), one of the fastest growing health and wellness companies in the United States (U.S.), today announced the acquisition of Molecular Infusions (Mi), a Boston-based biotechnology research and development company that leverages innovative product delivery systems to improve the results of cannabis therapies. The acquisition expands Surterra's research and development capabilities and establishes its first international footprint.
Mi is a leader in cannabinoid formulation and delivery with proprietary technology platforms in oral, inhalation, and topical cannabis formats, each designed to improve overall user experience, provide market leading dosing control, and deliver more predictable and targeted health benefits. With Mi's R&D expertise, Surterra is positioned as a force in the next wave of cannabis brand development. This acquisition brings:
A diverse and experienced team of PhDs, scientists, entrepreneurs, developers, cultivators, manufacturers, retailers, and thought leaders.
A world-exclusive fine mist inhaler that rapidly delivers precise and predictable dosing, with minimal irritation.
Beverage additives that provide rapid onset, predictable, consistent dosing and taste neutrality.
Commercial products focused on relief, productivity, wellness, relaxation, and recovery.
An ecosystem of leading U.S. and international affiliations and partnerships across cannabis, medical, and scientific communities, including a collaboration with Universidad De Antioquia via the PECET in Colombia.
"Acquiring Mi reflects Surterra's intention to aggressively expand our global research and product development capabilities to launch our next wave of cannabis brands that meet patient and consumer needs today and in the future. We see endless opportunities in cannabis 3.0 – where innovation, global brand building, and ability to scale globally will lead the way," said Surterra Chief Executive Officer William "Beau" Wrigley, Jr. "Mi shares our long-term view and can execute in a big way. We welcome their world-class leadership and elite research teams who have blue-chip reputations and affiliations with top research and educational institutions. We look forward to disrupting the cannabis industry together."
Mi was founded and led by Kevin Fisher, a cannabis industry pioneer who has operated some of the most successful vertically-integrated cannabis businesses in the U.S., and Dr. Jeff Karp, Professor of Medicine at Harvard Medical School and Brigham and Women's Hospital, who has affiliations with leading institutions including MIT, the Harvard Stem Cell Institute, and the Broad Institute of MIT and Harvard.
"Mi's advanced R&D platforms are reimagining product formulations and delivery strategies to build upon the benefits of cannabis. Our team approaches cannabis with a medical mindset, applying cutting-edge science, research, and technology to enhance the overall patient and consumer experience," said Kevin Fisher. "We are excited to be a part of Surterra Wellness, as we share a belief in building the best brands through break-through science. Our biolab in Massachusetts will continue to hire the best and brightest clinical and scientific minds in the world to join us."
Surterra's acquisition of Mi demonstrates the company's understanding of the global demand for cannabis products that deliver the best experience possible for patients and consumers. Surterra will integrate Mi's proprietary technologies across Surterra's multiple brands. The acquisition, the third in six months, demonstrates Surterra's continued ability to execute through thoughtful M&A, like-minded partnerships with best-in-class businesses, and organic growth of existing business, while following federal, state and global regulations.
Molecular Infusions Leading Platforms Cannabis-infused beverages are one of the fastest growing segments in the cannabis market, and Mi has two beverage additive formats. Mi's self-emulsifying drug delivery system (SEDDS) has a class-leading onset of less than 10 minutes. This water soluble formulation is dispensed in a dropper bottle, is transparent and colorless, offers standardized potency at approximately 1mg per drop and provides a more predictable, customizable, and consistent experience for consumers. Mi's second beverage additive, a nanoprecipitate, provides an odorless, colorless, and flavorless experience. The company's proprietary fine mist inhaler device breaks new ground in the pulmonary delivery of cannabinoids, as its format is as discrete as a typical asthma inhaler and has shown to quickly deliver cannabinoids with best-in-class efficiency into the lungs in measured, repeatable, irritation-free dosages. This proprietary, patented, propellant-free technology was co-developed with Medspray, a global leader in aerosolized drug delivery.
About Surterra Wellness Surterra Wellness (Surterra) is one of the nation's fastest growing health and wellness companies. With vertical operations in Florida, Texas, Nevada, and Massachusetts, Surterra brings a broad portfolio of high-quality brands to meet the needs of individuals who choose the natural medical relief and wellness enhancing benefits of cannabis products. Surterra offers a wide variety of medical, health and wellness products in multiple delivery options, including vaporizer pens, tinctures, oral sprays, topical creams, time released transdermal patches, and soft gels. The company's brand portfolio includes: Surterra Wellness, Florida's Finest, The Apothecary Shoppe, and now Coral Reefer. Founded in 2014, Surterra serves thousands of consumers each year. For more information, please visit www.surterra.com.
About Molecular Infusions Molecular Infusions (Mi) is a biopharmaceutical company based in Massachusetts committed to improving lives by advancing cannabis therapies through the deployment of proprietary technologies, scientific rigor, and results-driven innovation. Mi was co-founded in 2016 by Kevin Fisher (CEO of Mi) and Jeff Karp, PhD (Professor of Medicine at Brigham and Women's Hospital, Harvard Medical School, Principal Faculty at the Harvard Stem Cell Institute, and an affiliate faculty at the Broad Institute and at the Harvard-MIT Division of Health Sciences and Technology). Mi's portfolio of products includes a number of proprietary formulations and delivery platforms.