PARIS (Reuters) – European medical cannabis company EMMAC announced on Monday a research partnership with UK biotechnology company Hyris Limited to develop a library of genetic profiles of existing cannabis varieties.

Earlier this month, EMMAC bought French hemp-based and cannabis healthcare company GreenLeaf, as the legal use of cannabis for medicinal purposes steadily increases.

Cannabis stocks have been a growing trend on world stock markets, particularly on the Toronto stock exchange after Canada became one of the first major economies to legalize the recreational use of marijuana.

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)