"We look forward to updating shareholders as we secure grant funding with our new partners." The proposed Cannabinoid Centre of Excellence will aim to build out the body of scientific knowledge on medical cannabis in the UK, and become a 'world leading centre in this area by activity and reputation'. The pair have also agreed to collaborate on the development of a broader pipeline of research and to seek grant funding for these additional projects. Jazz Pharma The pharmaceutical giant, which now boasts a market cap of over $8.3bn, could be considering a sale of its cannabinoid arm, according to recent reports. Last month, Bloomberg reported that Jazz is understood to have brought in advisors to help gauge interest in a potential sale of parts of its business. It comes amid a number of key changes at the company, including a change in COO in September, and the ongoing hit to its lead product Xyrem due to the launch of generic alternatives.