German-based startup Cannamedical raises €15 million to sell medical marijuana across Europe

Cannamedical® Pharma GmbH, one of the leading independent cannabis wholesalers in Germany and the European Union, has received a 15-million-euro equity investment from the US- and Germany-based growth equity investment firm Orkila Capital LLC. As a result of its investment, Orkila Capital has acquired a minority in Cannamedical.

“I am very pleased that Orkila Capital has recognized our growth potential and chosen to invest in us. Our most important goal is to ensure the timely supply of medicinal cannabis to patients at all times. And we are very proud of our reputation in Germany for providing the highest levels of customer service and operating with transparency and integrity. Today we help doctors, healthcare professionals and pharmacists in Germany and other European countries to improve the quality of their patients’ lives. Our products are focused on helping people with cancer, multiple sclerosis (MS) and chronic or acute pain to live their best life with medical cannabis” commented David Henn, CEO and founder of Cannamedical® Pharma GmbH.

Cannamedical®’s commitment is aimed at safety, reliability and a quality management system that guarantees the highest possible product standards. All production partners must also meet the highest pharmaceutical quality standards worldwide – the so-called GMP guidelines (Good Manufacturing Practice).

Jesse Du Bey, founder and Managing Partner of Orkila Capital, says: “We look for leading platforms in massive and evolving consumer markets and have found such an opportunity in Cannamedical®. As with our early leading investments in the global health and wellness space and the European craft beer industry, we believe in Cannamedical®’s ability to provide customers with an innovate product and help develop the potential of a huge market. Having observed the development of the North American medical cannabis market, we know medical cannabis is an important, organic medicine with few side effects, primarily targeting patients with acute and chronic conditions. Having witnessed the terrible consequences of the opiate prescription wave in the US, we believe Cannamedical® can be a key player in helping German healthcare professionals provide millions of consumers with a natural therapy for chronic pain and many other acute conditions.”

Orkila Capital’s Series A investment in Cannamedical® is the largest private equity transaction in the cannabis industry in Europe. Following Orkila Capital’s investment, founder David Henn holds approximately 60 percent of the shares in Cannamedical® Pharma GmbH. SN-Invests, a Luxembourg-based start-up investor, is the company’s third largest shareholder with a stake of almost 21 percent.

Currently, around 60,000 patients in Germany have a license to use medical cannabis. Independent research and comparison with data from other countries shows that up to three percent of the population could benefit from treatment with medicinal cannabis, which could equate to up to approximately 2.5 million patients in Germany. For the EU as a whole, the patient population could eventually equate to approximately 15 million patients.

Cannamedical® Pharma GmbH was founded in 2016 and started operating following the legalization of medical cannabis in Germany in March 2017. Today, the Company employs around 40 employees in Cologne and generates a million turnover.

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