Radio New Zealand: Firms seek $30m to set up cannabis operations
Zeacann CEO was interviewed by Guyun Espiner on Radio New Zealand's Morning Report. Listen to the audio here:
"If we can target global markets that's how we can scale up and bring the price down to a tiny fraction of what patients are paying now." Zeacann co-founder Chris Fowlie duration6′ :51″ from Morning Report
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The number of companies seeking investment to get into medicinal cannabis production is sprouting.
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Another company waiting for law changes and capital is Zeacann.
It's launched a $20m fundraising programme to build two greenhouses in Auckland, fit-out laboratories and carry out research.
It's also looking to develop a range of products for domestic and scale-up to target export markets like Canada.
"Our research partnership with AUT (Auckland University of Technology) will assist Zeacann's aim to rapidly bring products to market and to develop novel formulations and dose delivery methods so we can help patients not currently well served by existing products," said co-founder Chris Fowlie.
The latest announcements from Nubu and Zeacann bring to five the number of companies that have emerged this year to grow or sell medicinal cannabis.
The Misuse of Drugs (Medicinal Cannabis) Amendment Bill is currently going through Parliament.