DEMECAN successfully closes its funding round and collects a total of EUR 15m in 2022 – DEMECAN
Summary
Recently, the companys cell culture laboratory at the Ebersbach site produced its first plants from tissue culture.The investment in this funding round comes from private and institutional investors. Among others, Mittelst\xe4ndische Beteiligungsgesellschaft Sachsen (MBG) and the Swedish dedicated Cannabis fund ENEXIS AB are joining existing shareholders, including the Frankfurt-based funds Futury Growth and Futury Venture as well as btovs Private Investor Network as investors in DEMECAN, thus participating in one of Saxonys leading start-ups expansion course.DEMECAN pursues the mission of supplying the German market with high-quality medical cannabis and contributing to the security of supply for patients. This will bring new challenges but great opportunities for us as a vertically integrated cannabis company and we are already preparing today for it comments J\xf6rg Sellmann, member of DEMECANs executive board.MBG sees the investment in DEMECAN as an opportunity to foster a still young and future-proved German market from Saxony. The company was founded in 2017 by Dr. Adrian Fischer, Dr. Cornelius Maurer and Dr. Constantin von der Groeben with the aim of guaranteeing patients access to medical cannabis in Made in Germany quality. Cultivation and further processing are carried out according to the highest pharmaceutical standards (EU-GMP) at the companys facility near Dresden.