DEMECAN, Germany’s only independent producer of medical cannabis, has closed another multi-million Euro financing round. The investment will be used for further growth as well as the expansion of the production facility, located near Dresden, into Europe's most modern facility for the cultivation and processing of medicinal cannabis.
The investment in the upper single-digit million range comes from private and institutional investors, among whom is new investor Futury Fund as well as existing shareholders, including the btov Private Investor Network.
"It is DEMECAN’s mission to guarantee the nationwide supply of high-quality medical cannabis for the benefit of patients in Germany. Therefore, we not only focus on the cultivation of medical cannabis but are also active in the field of R&D to develop new and innovative dosage forms," explains Dr. Adrian Fischer, physician, co-founder, and CEO of DEMECAN.
This financing round is an important step for DEMECAN in its rapid growth trajectory since being selected as a supplier of medical cannabis for the Federal Republic of Germany in 2019. In addition to product development and distribution, strategic objectives include collaborations with research-based pharmaceutical companies and the coordination and strengthening of operational pharmaceutical distribution.
To implement the corporate strategy, the DEMECAN Group intends to establish a subsidiary in the state of Hessen. The immediate proximity to pharmaceutical companies is critical as is cooperation with smaller cannabis companies in the region. The aim is to establish a dedicated medical cannabis research cluster, where knowledge of medical cannabis is combined with experience from large-scale pharmaceutical production. This will further enable DEMECAN to grow and conduct research more rapidly.
"DEMECAN has been able to establish itself early on as a leader in the medical cannabis market and we are convinced that it is positioned to take a leading role in Europe as well," said Benjamin Krahmer, Managing Director of Futury.