European pharmaceutical cannabis-based medicines provider Avextra AG has closed its most recent capital raise with support from existing investors, strategic partners and new institutional investors.
What Happened
The German company said on Wednesday, that it has raised more than EUR20 million ($21.5 million) over the past 18 months, which included equity instruments and convertible loan notes, all of which have now been fully converted into common shares, valuing the company at EUR100 million.
Why It Matters
The funding will boost Avextra’s continued expansion of its European distribution channels, including the sales of the company’s product portfolio into new markets across the continent and …
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