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Denmark: Capital injection for Dancann Pharma

Danish company Dancann Pharma has raised a Private Placement (Series A Investment) of 35 million Swedish Crowns [3.5 million USD] and will apply for listing on Spotlight Stock Market later this year. All in collaboration with their Corporate Finance partner, Corpura Fondkommission AB.

Dancann Pharma was founded in 2018 and is a Danish pharmaceutical biotechnology company active in cannabinoids. CEO Jeppe Krog Rasmussen comments: "We, on behalf of the company, are grateful for the overwhelming interest that has been in our case. A huge milestone has been reached for Dancann Pharma by our completed Private Placement.

"Dancann Pharma sees a huge opportunity for a unique position in a whole new unexplored market where several competing companies appear to have not been successful with their strategy so far. We see our current position as an advantage in relation to how the market has developed and that we have not 'rushed' our business – but carefully considered how to approach this task. This is reflected in all the choices we, as an organization, make – to ultimately ensure patient safety and satisfying results for our investors. With that said, an exciting time awaits us."

During Q1 2020 Dancann Pharma implemented a private placement of 35 million Swedish Crowns [3.5 million USD], which is now registered at the Danish Companies Registration Office. The issue was oversubscribed and Dancann will receive the 35 million SEK before issue costs. The capital injection enables the establishment of a high-tech production facility for the cultivation of medical cannabis as well as preparation for import and distribution. Dancann’s intention is to be listed on the Spotlight Stock Market in 2020.

The company focuses on discovering, developing, manufacturing and commercialising new therapeutic cannabinoids in a wide range of disease areas. The company is part of a new pilot programme for medical cannabis in Denmark and is licensed for the handling of Euphoriant-substances as well as the cultivation and handling of cannabis for medical use by the Danish Medicines Agency (DMA).

For more information:
Dancann Pharma
www.dancann.com 


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