French biotech Overseed secures €6.7M funding to revolutionize medical cannabis production in France
July 4, 2024, 9:34 pm
Overseed Biotech
Total raised: $7.21M
In a groundbreaking move, French biotech company Overseed has successfully raised €6.7 million in funding to establish itself as the premier manufacturer of 100% medical cannabis medicines in France. This significant investment will propel Overseed to the forefront of the local market, enabling them to deliver high-quality products to patients in need.
With a focus on strict pharmaceutical standards, France is gearing up to authorize the use and health insurance coverage of medical cannabis in January 2025. Overseed, based in Orléans, has been at the forefront of this movement since its inception in 2021. As a founding member of Santé France Cannabis, the company has been granted the first French R&D authorization for the Cannabis sativa L. plant, setting the stage for its innovative research and development initiatives.
The recent Series A funding round, led by Anthony Bourbon's Blast.Club and the seed capital fund of the Centre-Val de Loire region, managed by UI Investissement, marks a significant milestone for Overseed. This financial boost, following a successful €2.5 million seed round in 2022, will support the company's continued growth and expansion in the medical cannabis sector.
Overseed's strategic partnerships with industry experts, such as Stanipharm for extraction and formulation of active ingredients, and the Pharm&Beauty group for production of finished pharmaceutical products, ensure a seamless supply chain and delivery of top-notch medicines to patients. The company's commitment to excellence and safety is underscored by its focus on offering "Best in Class" products, guaranteeing the highest standards of quality and efficacy.
CEO and founder Hugues Péribère expressed confidence in Overseed's ability to lead the French market with its advanced manufacturing expertise. The company's state-of-the-art facilities and team of experienced professionals in genetics, agronomy, chemistry, pharmaceuticals, regulatory affairs, and market access position them as a formidable player in the medical cannabis industry.
In addition to its core product offerings, Overseed has embarked on a collaborative effort with the CNRS/CBM and the University Hospital of Orléans for preclinical and clinical research, aimed at expanding the indications of medical cannabis to address a wider range of pathologies. This research initiative underscores Overseed's commitment to innovation and continuous improvement in the field of medical cannabis.
As Overseed prepares to bring its range of oral products to market in collaboration with a renowned French pharmaceutical company, the company is poised to make a significant impact on the local and potentially European market. With a focus on national sovereignty and security of supply for patients, Overseed is set to revolutionize the medical cannabis landscape in France and beyond.
With a focus on strict pharmaceutical standards, France is gearing up to authorize the use and health insurance coverage of medical cannabis in January 2025. Overseed, based in Orléans, has been at the forefront of this movement since its inception in 2021. As a founding member of Santé France Cannabis, the company has been granted the first French R&D authorization for the Cannabis sativa L. plant, setting the stage for its innovative research and development initiatives.
The recent Series A funding round, led by Anthony Bourbon's Blast.Club and the seed capital fund of the Centre-Val de Loire region, managed by UI Investissement, marks a significant milestone for Overseed. This financial boost, following a successful €2.5 million seed round in 2022, will support the company's continued growth and expansion in the medical cannabis sector.
Overseed's strategic partnerships with industry experts, such as Stanipharm for extraction and formulation of active ingredients, and the Pharm&Beauty group for production of finished pharmaceutical products, ensure a seamless supply chain and delivery of top-notch medicines to patients. The company's commitment to excellence and safety is underscored by its focus on offering "Best in Class" products, guaranteeing the highest standards of quality and efficacy.
CEO and founder Hugues Péribère expressed confidence in Overseed's ability to lead the French market with its advanced manufacturing expertise. The company's state-of-the-art facilities and team of experienced professionals in genetics, agronomy, chemistry, pharmaceuticals, regulatory affairs, and market access position them as a formidable player in the medical cannabis industry.
In addition to its core product offerings, Overseed has embarked on a collaborative effort with the CNRS/CBM and the University Hospital of Orléans for preclinical and clinical research, aimed at expanding the indications of medical cannabis to address a wider range of pathologies. This research initiative underscores Overseed's commitment to innovation and continuous improvement in the field of medical cannabis.
As Overseed prepares to bring its range of oral products to market in collaboration with a renowned French pharmaceutical company, the company is poised to make a significant impact on the local and potentially European market. With a focus on national sovereignty and security of supply for patients, Overseed is set to revolutionize the medical cannabis landscape in France and beyond.