CBD producer Brains Bioceutical Corp. has raised $31.9 million through an investment round.
DSM Venturing, the corporate venture arm of Royal DSM, a company focused on health, nutrition, and sustainable living, was a lead investor.
Del Morgan & Co. acted as Brains’ financial agent for the transaction.
Rick Brar, CEO and chairman of the Vancouver, British Columbia-based company, called the capital raise an “exciting milestone” for the company’s team.
“The growing demand for isolated CBD Active Pharmaceutical Ingredients (APIs) within the pharmaceutical and nutraceutical industry continues to expand,” Brar said. “Our team has worked tirelessly to position Brains as the market leader within the CBD industry.”
Brains produces CBD as an active pharmaceutical ingredient for pharmaceutical applications, research, development and clinical trials. In addition, it is one of few producers in commercial production in Europe with EU-GMDP certification that manufactures CBD API, which contains 99.7% CBD and zero tetrahydrocannabinol (THC), for both human and veterinary use within an MHRA licensed facility.
“Brains' unparalleled expertise and manufacturing capabilities in the CBD space combined with DSM’s unique scientific and marketing capabilities in the pharmaceutical sector make this the ideal partnership to help pharmaceutical players realizing the potential of CBD’s for early-stage drug development,” Pieter Wolters, managing director at DSM Venturing, said Wednesday.
Photo by CBD Infos on Unsplash
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