Producers of premium medicinal cannabis products have exceeded their £850k crowdfund campaign on the UK-based Seedrs platform target within 24 hours of going live.
swisscann, which plans to expand into the UK market in 2025, has also announced it has agreed a European-wide distribution deal with a publicly listed pharmaceutical company, which will make its products available across the continent.
The company’s cannabis-based products contain the cannabinoid tetrahydrocannabinol, also known as THC, which are being increasingly prescribed to treat a range of diseases and conditions including cancer, multiple sclerosis, Parkinson’s and epilepsy. They also effectively manage symptoms such as inflammation, pain, nausea, trembling, muscle spasms, insomnia, anxiety and depression.
swisscann’s founders have invested £4m to date to develop the business including the building of a state-of-the-art, indoor production facility ensuring consistently high-quality standards for their products. Following its success in securing a medical cannabis cultivation licence from the Swiss government, the Zurich-based company is set to obtain EU GMP (Good Manufacturing Practice) certification later this year after an inspection of its premises in September.
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