Berlin/Ebersbach, 07. August 2024 - DEMECAN, Germany's premier medical
cannabis producer, is pleased to announce the successful completion of its latest
funding round, marking a significant step forward in its growth strategy. This influx of
capital will enhance pharmacy distribution capabilities through innovative SaaS
solutions and the Company’s online pharmacy platform www.herbery.de. Furthermore,
investments will be made into internationalization and product innovation.
Jörg Sellmann, Managing Director and responsible for finance, adds: "This financing
round is a significant milestone for DEMECAN. It gives us the necessary resources to
accelerate our growth trajectory and capitalize on the burgeoning opportunities within
the medical cannabis sector, especially following its reclassification in April. Demecan
has the best basis for this, as positive results have already been achieved since April
and will improve further due to the full utilization of production capacities in
accordance with the new cannabis law in Germany "
The round, led by Florida-based Trog Hawley Capital, with additional participation from
new and existing investors, represents the first institutional investment from a U.S.
based investor in DEMECAN. Trog Hawley Capital provides capital and strategic
advice to exceptional entrepreneurs and management teams, leveraging over 10 years
of experience building and investing in U.S. multi-state cannabis operators. The
participation of international investors with such experience underscores DEMECAN’s
strength as the market leader, as well as the potential of the German market for
medical cannabis.
"We are pleased with the support of our investors, and their trust in our good work,"
says Dr. Constantin von der Groeben, co-founder and Managing Director of
DEMECAN. "The participation of new investors from the USA shows that our approach
and vision are recognized internationally."
Adam Ryan, CEO of Trog Hawley, adds: " Europe's cannabis market, particularly
Germany, presents exceptional growth prospects far exceeding those in more mature
markets. DEMECAN's comprehensive infrastructure, including its production facilities
and Cannabis Campus with advanced laboratory and processing capabilities, positions
it as a frontrunner in the industry. We are very excited to be part of the team and look
forward to supporting their next growth phase."
About DEMECAN
DEMECAN is an independent German company that covers the entire value chain of
medical cannabis - from cultivation through pharmaceutical production to delivery to
pharmacies. The company was founded in 2017 and has since established itself as a
pioneer in the German cannabis market. With its commitment to the highest quality and safety in medical cannabis production, DEMECAN contributes to improving patient care in Germany and Europe.
In May 2019, DEMECAN received the contract to grow medical cannabis in Germany from the Federal Institute for Drugs and Medical Devices (BfArM). Cultivation and processing are carried out according to the highest pharmaceutical standards at the facility near Dresden. In July 2024, DEMECAN also received a cultivation license under the new Medical Cannabis Act. In addition, DEMECAN imports medical cannabis from producers worldwide to expand its range and meet high-quality standards. The company also offers laboratory and processing services related to medical cannabis and provides pharmacies with a logistics solution for handling medical cannabis.
DEMECAN is a member of the Federal Association of Pharmaceutical Cannabinoid Companies (BPC) and the Federal Association of the Cannabis Industry (BvCW).
About Trog Hawley Capital
Founded in 2012 and based in West Palm Beach, Florida, Trog Hawley Capital leverages a team of serial entrepreneurs, seasoned operators, and investment professionals who collectively have founded and grown businesses worth over $1 billion. Trog Hawley Capital founded, and operated Tryke Companies, a multi-state cannabis operator, for nearly a decade, eventually exiting the business via sale to a strategic acquirer in late-2022. The firm has carved its niche in direct venture investing with 30+ portfolio companies across verticals such as big data, cyber security, cannabis, e-commerce, energy infrastructure, enterprise, fintech, gaming/esports, and healthtech.
For more information: www.demecan.de
Press contact: Franz Großmann
Email: press@demecan.de
Mobile: +49 151 742 25 332
