Ger­man cannabis med­i­cine man­u­fac­tur­er lands $17M+ in fund­ing

The Ger­man-based cannabis med­i­cine pro­duc­er Avex­tra has reeled in some new funds while al­so look­ing to ex­pand its reach with­in Eu­rope.

Avex­tra an­nounced Wednes­day that it se­cured a to­tal of €17 mil­lion ($17.9 mil­lion) in a cap­i­tal raise. The com­pa­ny said in a re­lease that the cash will be go­ing to­ward sev­er­al av­enues of its busi­ness, which in­clude ex­pand­ing the sales of its cur­rent prod­ucts in new mar­kets in Eu­rope and boost­ing the de­vel­op­ment of new cannabis-based med­i­cines and prod­ucts. Avex­tra al­so plans to ex­pand its re­search and de­vel­op­ment work and grow its pres­ence in Por­tu­gal, where the com­pa­ny has a cul­ti­va­tion fa­cil­i­ty.

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