COPENHAGEN, Denmark, Dec. 15, 2021 Tetra Pharm Technologies, a Danish Biotech firm, secured €2M in its first spherical of funding led by Leafy Tunnel, a hashish and psychedelics specialist European VC fund and different notable traders together with Enexis, a Stockholm-based hashish funding firm.
Tetra Pharm Technologies, with manufacturing amenities in Copenhagen, develops and commercializes cannabinoid-based medicines to deal with ache.
“We exist to enhance the lives of sufferers and their households, by formulating environment friendly medication, with a low side-effect profile, at a good worth,” Co-Founder and CEO Martin Rose acknowledged.
With this funding, the corporate stated it hopes to provoke scientific trials with a brand new drug candidate while additionally increasing its operations in Europe.
“We strongly imagine that Tetra Pharm is a hidden gem within the European hashish house, situated within the Medicon Valley, one of many main life science clusters in Europe. The founders have unparallel pharmaceutical experience to ship on their imaginative and prescient to construct a biotech chief in cannabinoid formulations. The Leafy Tunnel staff is aligned with the founders’ imaginative and prescient, and we stay up for seeing the corporate develop within the coming years,” Nikolay Tretiyakov and Bek Muslimov, Founding Partners at Leafy Tunnel, acknowledged.
Tetra Pharm Technologies already closed a number of distribution offers throughout their essential markets in Europe, however there a many extra on their approach, stated Mr Rose. This is an ideal time for the corporate to develop with Prohibition Partners stating that the European marketplace for Cannabinoid-based remedy is predicted to achieve €3.2B by 2025, with an exponential progress the approaching years in a current report.
“Developing and releasing therapeutics to help the rising demand for cannabinoid-based medicines will not be solely a possibility for our progress, it is also a possibility for the thousands and thousands of sufferers hoping to obtain higher medication at a decrease value sooner or later,” Tetra Pharm Technologies Co-Founder, Jesper Breum stated.
The firm is predicted to finish an enlargement venture in 2022, which is able to enhance the corporate’s product output by 1000%. “It’s going to be an thrilling yr, with new amenities, scientific trials, and new merchandise in the marketplace. We are subsequently actually excited and grateful for the help from Leafy Tunnel and Enexis,” Martin Rose acknowledged.
Contact: Martin Caspersen, firstname.lastname@example.org, +45 61224241
SOURCE Tetra Pharm Technologies
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