Funds have been raised that could see a Liverpool medical company become key to the "rapidly expanding" ethical, legal cannabis market.
It became lawful for the NHS to prescribe marijuana in certain circumstances back in November, but it’s estimated that usage by health services has been low since then.
But with the value of the industry estimated at “multi-billion”, now Liverpool Science Park-based TTS Pharma has announced it’s looking to become one of the world’s “leading suppliers”.
The substance may have been available in countries such as Holland for many years, but the Independent reported last month NHS prescriptions of the substance since the law in the 海角视频 was changed has been “low” - fewer than 100.
TTS Pharma, a firm claiming to produce, manufacture and supply the “highest quality, legal and safe cannabinoids”, has announced it’s closed a private equity investment of £10.3m.
The firm says the move will permit TTS Pharma to become one of the leading global suppliers, by allowing it to expand its existing supply chain, develop its own facilities and further strengthen its academic and commercial partnerships.
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TTS Pharma CEO, Mark Tucker said: “It is a great privilege to lead a team of highly experienced pharmaceutical professionals building an exciting portfolio of technologies and products based on world class expertise and industry leading know-how.
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“We are well placed to build on the scientific developments driving this rapidly growing industry and provide cannabinoid products of unparalleled quality and consistency.
“Since my early involvement in pre-clinical cannabinoid trials in 2003, TTS Pharma has grown extensively and is now producing and developing a range of innovative and safe cannabis-based products within existing legislation and the evolving regulatory framework.”
According to the firm, the ethical cannabis market will soon become a high growth, disruptive and innovative new segment in the life sciences field, “and TTS Pharma is ideally positioned to capture rapid value within this market”.
TTS Pharma also announced the appointment of a new executive chairman, Paul Atherton, who said: “Utilising existing in-house know-how, TTS Pharma represents a unique chance to develop and produce world class, novel products for the rapidly growing new industry of ethically-based, legal cannabis products.
“I see a long-term opportunity to establish cost and scale advantages, allowing this company to flourish in this attractive, global emerging industry.”
The firm describes itself as “unique”, and has partners in drug discovery, development, separation, purification and drug delivery, also incorporating the supply chain management of cannabinoids like CBD.
It hopes to provide a “transparent and accountable” supply chain producing legal and regulated cannabis-derived active agents for research, bulk ingredients and finished products.
Mr Tucker added: “TTS Pharma is committed to producing the highest quality, fully compliant CBD products for use in a large range of commercial segments, alongside a number of partners, after obtaining the requisite regulatory clearance.”