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Ireland: GreenLight Medicines Gets €500,000 to Explore Medicinal Cannabis

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Submitted by Marijuana News on Wed, 09/21/2016 - 08:45

As well as the funding from a group of Irish investors, Isodiol is providing €1.25m.

Pharmaceutical start-up GreenLight Medicines has secured €500,000 in funding as it seeks to develop “breakthrough medicines” using cannabis extracts.

The company, which primarily focuses on exploring the “full potential of cannabis and cannabinoids as a medicine”, secured the phase-two funding from a consortium of private Irish investors. It follows an initial €100,000 seed investment.

The new funding will enable the company to “further progress” its Irish and UK research in advancing medicines using cannabis extracts (cannabinoids) and other plant-derived molecules to treat a variety of illnesses.

In addition to the Irish investment, Swiss-American firm Isodiol has committed €1.25 million in CBD hemp oil products over a five-year period to assist GreenLight in cultivating its research studies within Irish universities.

Isodiol has also agreed a five-year research contract with GreenLight so as to further validate the...

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The Irish Times
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