German cannabis company raises EUR 35 million

By Sandy Bhadare

German medical cannabis company Sanity Group has completed the biggest ever European Series A funding round for cannabis-based products.

Magic Circle law firm Clifford Chance acted for Sanity Group on the financing round which raised approximately EUR 35 million.

Sanity plans to use the capital raised to grow its medical arm in Europe and its consumer goods division, and for research and development. This will include the establishment of a facility dedicated to cannabis extract research and production which is compliant with European Union good manufacturing practice. The facility will be located nearby to Frankfurt.

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