German technical investor leads series for Germany’s first medical cannabis startup. Germany just hit a new milestone in the space where venture capital and the burgeoning cannabis industry meet. However, medical marijuana is the only medicine that helps Dalton Hunsberger with seizures, nausea, and anxiety.
German startup Demecan closed the investment round A and received $7 million. This is to expand production and sales of medical cannabis. Demecan is a producer of medical cannabis in Germany. They obtained a license to produce and process at least 2400 kg of medical Cannabis over a period of four years in Germany.
A German tech investor supported a medical cannabis company
Company is innovative, transparent and follow their goals consistently. Demecan places a high value on scientific expertise and experience with phytopharmacological products. Furthermore, their vision is to increase the quality of life of all our patients.
Only three companies – two of them from Canada – have been awarded contracts to produce medical cannabis in Germany so far. On behalf of the Federal Institute for Drugs and Medical Devices (BfArM) Demecan will produce at least 2400 kgs of dried cannabis flowers over the next four years.
The company will start the cultivation of medicinal cannabis in Germany in July 2020 in its facility close to Dresden. They will be the first and only German producer of medicinal cannabis. In addition, all of our products will adhere to the highest pharmacological standards and be produced in accordance with GACP and GMP standards.
“Demecan works in a very attractive market. Today Germany represents the third largest medical cannabis market in the world. It is on the way to growth. Furthermore, we believe that the company has the advantage of being a pioneer in this field,” says Jennifer Fan of btov Partners.
Fully controlled conditions
Demecan’s cannabis plants will be cultivated under complete climate control. From the first clone until the harvest. People in the company closely monitor and regulate lighting and temperature conditions to fit plants’ needs ideally and dynamically.
Demecan ensures through specialized filters and double-door system that no pest or spores can enter our production facility. Additionally, this allows producing clean and natural cannabis without the use of pesticides or irradiation. The company uses clean and sterilized reverse osmosis water to control the nutrients plants need to grow.
Main company’s investor
The main investor was the German venture fund btov Partners. It has been working since 2000 and has already invested in 112 projects, including ORCAM, Facebook and others.
The Berlin-based company is the only one in Germany that has an allowance to grow medical cannabis. Previously, the startup received permission from the Federal Institute for Medicines and Medical Devices. This means that Demecan can produce at least 2400 kg of dried cannabis flowers before 2023. Demecan has a focus on further growth and the launch of production in 2020.
Cannabis is a great use in a wide range of medical conditions. These include alleviating nausea for cancer patients undergoing chemotherapy, improving appetite in people with HIV/AIDS, reducing chronic pain, helping with anxiety and treating severe forms of epilepsy.
(Featured image by Annie Spratt)
First published in tech.liga, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. B2I assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. B2I is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Med’Innovant Africa, the event that aims to identify innovative startups in Africa
Since July 1st, the second edition of the Med'Innovant Africa competition, initiated by Euroméditerranée, has been looking for the most...
Aipb starts the “ESG Certification” training course
The Italian Private Banking Association (Aipb) announced that it will organize a new course for ESG Certification dedicated to private...
Japan’s blockchain sector grew by 30.7% over the year
The integration of the cryptocurrency sphere into the classic financial world of Japan is evidenced by the fact that 31...
Crowdfunding helped Cervecería de Colima to weather the coronavirus crisis
Between February 12th and 27th, Cervecería de Colima raised $448,620 (10 million pesos) through the equity crowdfunding platform Propeler. With...
Precious Metals Investing: Small-cap gold producer Inca One Gold launches the first comprehensive database of Artisanal Gold Mining operations in Peru: XplorTracker
Knowledge is power and in business good data makes all the difference. Inca One Gold Corp. (TSXV: IO.V, OTC: INCAF,...
Business6 days ago
How to invest in a bear market: Why small-cap gold producers like Inca One belong in your precious metals investment portfolio
Business7 days ago
Mobile gaming investments? Consider Leaf Mobile (TSXV: LEAF), Activision Blizzard (NASDAQ: ATVI), and Tencent Holdings (OTC: TCEHY)
Business5 days ago
VR News: Zadar Ventures (TSXV:ZAD, OTC: ZADDF) poised to win big with XRApplied acquisition in the augmented and mixed reality and toy industry
Featured7 days ago
Solarisbank receives €60 million and has its eyes set on Wirecard Bank