LONDON – CBD Science Group PLC announced an EIS Approved Series A funding round, on the Crowd for Angels platform. The Series A Funding is a raise of £2 million at £0.50 per share on a £12.8 million pre-funding market valuation. CBD Science Group is pioneering research, development, and the provision of access to commercially effective and affordable plant-based cannabinoid pharmaceutical medicines specifically for treating patients suffering from cancer related pain in the UK, and recently received an endorsement from the National Cancer Research Institute of the UK.
Pain is one of the most feared symptoms of cancer and currently millions of patients go untreated. In the UK there are an estimated 3 million patients suffering from cancer with 367,000 new diagnoses per year. Of that population, it has been shown that pain affects between 40-66% of cancer patients depending on the stage of their treatment. It is clear that proving cannabis-based medicines as an alternative for successful pain treatments is needed as a matter of urgency.
Alternative treatments for pain are usually opioid-based. Evidence of the effectiveness of opioids is limited, particularly for long term chronic pain, and too often they have harmful side effects such as dependence, addiction, and overdoses. These negative impacts of opioids recently led The National Institute for Health and Care Excellence (NICE) to recommend eliminating opioid use for people with chronic primary pain completely; however without suitable alternatives there are concerns of a continued UK Opioid epidemic.
CBD Science has embarked on an accelerated pathway for the regulatory approval of cannabis-based prescription drugs through a Real World Evidence, peer-reviewed clinical trial, which has been endorsed by the National Cancer Research Institute. This unique strategy seeks to quickly deliver approved therapies to patients in need. Rapid regulatory approval and reimbursement will see CBD Science Group move into revenue generation. A highly reputable Clinical Advisory Board has been established under the direction of the Group’s Chief Clinical Advisor and former Deputy Medical Director of NHS England, Professor Mike Bewick.
Commenting on the announcement, Dr. Michael Raymont, CBD Science’s CEO said:
“Clinical Trial protocols have been written and peer-reviewed with highly sought-after endorsements from representative institutions, such as the National Cancer Research Institute (NCR) as well as prominent patient groups. The company has consolidated partnerships with a number of leading oncology research centres across the UK, and intends to initiate patient enrollment in Q1 of 2022.”
He added, “Investments through this crowdfund will contribute to further R&D, ongoing clinical trial facilitation, working capital, and production/supply chain. Given the scale of suffering currently experienced by cancer patients, the opportunity to make an ongoing and very real difference to millions of people’s lives through this research is huge. Investment in CBD Science today provides the potential for synergistically rewarding outcomes for both investors and cancer patients.
CBD Science Group PLC is pleased to announce an EIS Approved Series A Funding raise of £2 million at £0.50 per share on a £12.8 million pre-funding market valuation.
- EIS Advance Approval has been granted by HMRC, entitling UK tax paying investors to tax breaks on their CBD Science investment
- The UK legal cannabis market is forecasted to reach £2.31 billion by 2024 (Prohibition Partners, 2021)
- A direct addressable market of roughly 1 million patients with the potential to yield £3,000-4,000 in revenue per patient per year.
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. CBD Science Group undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of CBD Science Group, its securities, or financial or operating results (as applicable). Although CBD Science Group believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond CBD Science Group’s control. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. CBD Science Group disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
(This information is primarily sourced from CBD Science Group PLC. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).