German Cannabis-Focused Co. Avextra Sets Its Sights On Expanding European Distribution With New Funding
Avextra AG, a European pharmaceutical company that specialises in cannabis-based medicines, has closed its most recent capital raise, securing over €20m ($21.5m) in investment. The German firm plans to use the funding to expand its distribution channels across Europe and to accelerate clinical trials to develop new treatment options for specific health conditions. Avextra also aims to enhance the market development of its product portfolio in Germany. The capital raise was supported by existing investors, strategic partners and new institutional investors. The funding will help the company to execute its two-pronged strategy and continue delivering results for its shareholders, according to CEO Dr. Bernhard Babel. In October, Avextra announced the Avextra Alliance for Evidence-based Cannabis Medicine, which supports research and development of cannabinoid-based therapies in European markets with federally regulated patient access schemes.
