Brains Bioceutical Corp. is pleased to announce the completion of its US$30m Capital Raise
VANCOUVER, Dec. 19, 2019 /CNW/ - Brains Bioceutical Corp. ("Brains") is pleased to announce the completion of its US$30m Capital Raise, including US$19m raised exclusively by Canaccord Genuity, and strategic partnership with a leading European Medical Cannabis Group. Brains' founders and senior management participated with equity in the raise.
This sophisticated, sizeable and strategic transaction solidifies one of the largest partnerships operating in the Medical Cannabis sector in Europe.
Brains is a global leader in EUGMP- certified production of plant-based cannabidiol (CBD) as an Active Pharmaceutical Ingredient (API) for pharmaceutical and nutraceutical use. Brains has already signed supply agreements with leading global pharmaceutical and health and wellness companies and commenced shipment to several countries around the world.
Brains is one of the few phyto-cannabinoid CBD API manufacturers in Europe with EudraGMDP certification currently in commercial production. Brains' CBD API (its primary offering to the market) is MHRA licensed for both human and veterinary use and contains 99.7% CBD and zero Tetrahydrocannabinol (THC). Part of the capital raised will be used to expand Brains' existing UK CBD API production growing its current annual capacity from 864,000g to 6,912,000g per annum, a near seven-fold increase.
Brains' CBD API is currently in use in a Phase III clinical trial for refractory epilepsy in adults conducted by a leading global pharmaceutical corporation. Brains expects a positive outcome from this advanced clinical study and will be ramping up CBD API production to meet anticipated demand. Brains' API has successfully been produced and shipped as a "Specials" medicine, approved by the MHRA, within the U.K. The Brains team of skilled scientists and researchers are finalizing plans to create additional APIs for dominant cannabinoids including THC, CBG, CBN, CBC and more.
Q1 2020 will see Brains launch its branded nutraceutical CBD range of products in top tier health and wellness retail and pharmacy chains in the UK. All Brains' products, own-brand and white-label, will bear the 'Brains Inside®️' trademark to provide the quality assurance stamp of EudraGMDP CBD API.
Brains is also well positioned to navigate the strict Novel Foods requirements in the UK from the Food Standards Association (FSA) and in Europe by the European Commission's (EFSA) for CBD products.
Brains phyto-cannabinoid pure CBD API has successfully been tested by the INRS Laboratory, a World Anti-Doping Agency (WADA) facility. These screening reports have confirmed that Brains' CBD API is free of THC, pesticides and other banned substances listed by WADA. Brains is first of its kind in the industry to get such a confirmation from a WADA- accredited laboratory for the purity of its CBD and the absence of prohibitory substances. WADA has removed CBD from its banned substance list.
The Brains partnership with a leading European Medical Cannabis Group creates a vertically integrated Medical Cannabis operation and has (via its subsidiaries) inter alia received in-principle approval from a European jurisdiction to obtain a license (to permit for the cultivation, extraction, processing, manufacture, storage, transport, import and export of medicinal cannabis and cannabis-derived products) and to establish a high-quality cannabinoid processing facility.
About Brains Bioceutical Corp:
Brains Bioceutical Corp is a leader in GMP – certified production of naturally sourced active pharmaceutical ingredients (APIs) for the pharmaceutical and nutraceutical industries. Brains Bioceutical is one of the only cannabinoid active pharmaceutical ingredient (API) manufacturers in production today and is involved in academic and clinical trials across the globe.
Brains Bioceutical Corp. Senior Management Team is made up of a rare hybrid of pharmaceutical and consumer goods executives-having held C-suite and other senior positions with companies such as GW Pharma, Merck, Seattle Seahawks, Golden State Warriors, Danone, Earthbound Farms, International Herbs, Cascadia Specialties and The Royal British Navy. This experience allows Brains to execute at a hyper-efficient level in the pharma and wellness categories.
Brains' wholly owned subsidiary in the UK, BSPG Laboratories is one of only nine companies that has the commercial capability and EudraGMDP certification to produce natural CBD API. Brains is currently manufacturing a line of phytocannabinoid THC-free CBD API products. These products will be available across the UK early 2020.
MHRA Registered API: Inspected and Registered with the MHRA (Medicines and Healthcare Products Regulatory Agency). API Certificate Number: UK API 48727
All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Brains Bioceutical Corp. assumes no obligation to update the forward-looking statements should they change.
SOURCE Brains Bioceutical