Demand for cannabis-based products is growing, as are calls for renewed research into the drug’s value in the healthcare industry.The industry is booming and startups are best placed to take advantage of an influx of financial backing for new projects.
The industry is booming and startups are best placed to take advantage of an influx of financial backing for new projects.
Demetrix, a start-up focusing on isolating and brewing cannabinoids, has just raised $50 million in a new round of financing. Part of this sum comes from Horizons Ventures, a firm backed by real estate billion, Li Ka-shing. The rest has been raised by Tuatara Capital – a company that invests in the legal cannabis industry.
So what sets Demetrix apart from other companies using yeast to brew cannabinoids? Their founder’s research from Berkely.
Jay Keasling has developed a new technology that gives Demetrix a unique way to isolate and grow cannabinoids. They can also screen them for utility.
Demetrix intends to use the new financing to commercialise more than 100 unique cannabinoids that it believes can be used in consumer and medical products.
To see what other start-ups are achieving in the cannabis industry, follow The Leaf Desk.