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Home»Health»Medical Cannabis Producer Swisscann Targets European Expansion via UK Crowdfund Success
Health

Medical Cannabis Producer Swisscann Targets European Expansion via UK Crowdfund Success

John MorseBy John Morse03/08/2024Updated:04/08/20243 Mins Read

Swisscann, a leading producer of premium medicinal cannabis products, has surpassed its £850,000 crowdfunding target on the UK-based Seedrs platform within just 24 hours. The Zurich-based company, which plans to enter the UK market in 2025, has also announced a significant European distribution deal with a publicly listed pharmaceutical firm, ensuring its products will soon be available across the continent.

Swisscann’s cannabis-based treatments contain Tetrahydrocannabinol (THC), a cannabinoid increasingly prescribed for a variety of conditions including cancer, multiple sclerosis, Parkinson’s disease, and epilepsy. The products are also effective in managing symptoms such as inflammation, pain, nausea, muscle spasms, insomnia, anxiety, and depression.

To date, Swisscann’s founders have invested £4 million into the business, establishing a state-of-the-art indoor production facility that guarantees consistently high-quality standards. Following the successful acquisition of a medical cannabis cultivation licence from the Swiss government, the company is on track to obtain EU Good Manufacturing Practice (GMP) certification later this year, pending a September inspection of its premises.

Swisscann is poised to enter the German market, Europe’s largest, in early 2024, with plans to expand into the UK the following year. The global market for medical cannabis, currently valued at over £9 billion, is expected to grow by nearly 20% annually until 2027. By that time, the number of worldwide product users is anticipated to exceed 55 million. In Europe, medical cannabis sales are projected to rise to over £1.7 billion by 2027, with Germany accounting for nearly half of this revenue. The UK market is expected to reach an annual value of €550 million.

The funds raised from this latest investment round will be used to increase production capacity, enabling Swisscann to meet the expected market demand. Additional investments will support operations and business development activities.

Swisscann was co-founded by Jaan Spitz, a neuro-computer science graduate with a background in robotics and AI research, and Daniel Gelemanovic, a law graduate and former legal and compliance officer in the Swiss financial industry. Jaan oversees production and R&D activities, while Daniel is responsible for compliance and sustainable business development.

Daniel Gelemanovic commented: “This new investment round will further drive Swisscann’s momentum as we finalise compliance and accreditation certification and roll out our premium products across Europe. With significant growth forecast in the medicinal cannabis market, the additional investment will ensure Swisscann can expand capacity from our state-of-the-art production facility and become a major player in Europe. Initially focusing on Germany, we also look forward to targeting the UK medicinal cannabis market, which is expected to grow significantly between now and 2027.”

Jaan Spitz added: “We’re delighted to welcome UK investors through our crowdfunding campaign, offering an opportunity to be part of an innovative company focused on delivering exceptional products that benefit people’s health and wellbeing. Medical cannabis revolutionises patient care, offering powerful symptom relief with fewer side effects than many conventional drugs, vastly enhancing users’ quality of life. Our all-natural products are bringing an alternative approach to medicine and have become a game changer for many patients, improving their quality of life.”

Swisscann’s rapid crowdfunding success and strategic expansion plans underscore the growing demand and potential within the medicinal cannabis market, positioning the company as a key player in the European sector.

For more information, visit Swisscann | Crowdfunding Investment | Seedrs (republic.com).

cannabis crowdfund european expansion health medical producer success swisscann targets via
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