Brains Bioceutical has completed a USD $31.9 million capital raise with DSM Venturing and existing Brains shareholders.
“The completion of the capital raise marks an exciting milestone for the Brains’ team. To have the confidence of DSM in this next round solidifies Brains strategic position within the pharmaceutical industry,” said Brains' CEO and Chairman Rick Brar. “The growing demand for isolated CBD Active Pharmaceutical Ingredients (APIs) within the pharmaceutical and nutraceutical industry continues to expand. Our team has worked tirelessly to position Brains as the market leader within the CBD industry. Our suite of licenses has allowed Brains to scale rapidly within the industry,” Brar continued.
Pieter Wolters, Managing Director DSM Venturing, commented: "The CBD market is fast-growing, powered by increasingly strong scientific evidence that demonstrates the potential of CBD APIs in a number of therapeutic areas. Also, consumers increasingly turn to CBDs to address health issues. 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.’’
Brains is one of a few companies in the world producing CBD as an API for pharmaceutical applications, research, development, and clinical trials. It is also one of the rare few manufacturers in commercial production in Europe with EU-GMDP certification, producing CBD API for both human and veterinary use within an MHRA-licensed facility. Brains’ CBD API—its primary offering to the market—contains 99.7% CBD and zero Tetrahydrocannabinol (THC).