Concord News Now

Demetrix Raises $50 Million to Research Synthetic Cannabinoid Production

 Breaking News
  • No posts were found

Demetrix Raises $50 Million to Research Synthetic Cannabinoid Production

October 31
07:36 2019
Demetrix Raises $50 Million to Research Synthetic Cannabinoid Production
In the health and supplement world, cannabinoids have been the talk of the industry. Although CBD has taken center stage as the cannabinoid currently attributed with the most potential, over 200 from the cannabis plant have been discovered to date.

Cannabinoids, especially CBD, have demonstrated in early research incredible potential for medical and health applications ranging from pharmaceutical drugs to general health aids. In fact, the U.S. Food and Drug Administration (FDA) recently approved Epidiolex, a CBD-based pharmaceutical drug approved for the treatment of two rare, yet severe, forms of epilepsy. 

This move, coupled with exponentially increasing consumer demand for CBD and other cannabinoids, has created a feverish rush for bringing new products to market, a gold rush that companies such as Next Green Wave have already taken advantage of.

With excitement from private and individual investors high, the market has opened up a myriad of unique opportunities, one of which Demetrix is poised to take advantage of.

Demetrix Raises $50 Million for Synthetic Cannabinoid Production

Demetrix recently raised $50 million to research synthetic cannabinoid production. The funding was led by the Tuatara Capital investment group, with support from another investor, known as Horizon Ventures of Hong Kong. Horizon Ventures was instrumental in raising an $11 million seed round for Demetrix. Horizon Ventures is an investment arm of Chinese magnate Li Ka-shing. This is a Series A funding round for Demetrix, meaning that it’s the first round of financing a startup receives when company ownership is offered to external investors.

About Demetrix

Demetrix is a biotechnology company focused on the production of cannabinoids.  They claim the active therapeutic compounds in the plant could reach $100 billion by 2029. For the past 10 years, they’ve relied on plant cultivation and extraction procedures to get high purity THC and CBD. However, they state that the plants contain low concentrations, which make it uneconomical. They intend to counter that by using baker’s yeast to produce large volumes of any cannabinoid at high quality and lower cost. This involves a fermentation technology that speeds up the production of cannabinoids. Jeff Ubersax, Demetrix CEO claims the mission is to “help the world benefit from nature’s rarest ingredients.” They plan to accomplish this with synthetic biologic work.  

By packing yeast in a fermentation tank, the scientist will have to keep the yeast healthy. By using a controlled fermentation process, it’s easy to scale, and cost-efficient. 

About Tuatara Capital Investment

Tuatara Capital Investment is a private equity firm to help fund companies and businesses in the cannabis industry. Their mission is to work alongside teams to provide financial, strategic, and operational support in legal cannabis industries. Tuatara looks to work with companies with a clear path to scale, talented leaders looking to increase growth, minority investments, operators in North America and certain global markets, and rapidly growing businesses with proven track records. They focus on research and testing, cultivation, processing, consumer and retail, technology, and industrial services.  

They believe the cannabis industry is gaining momentum. This is because of a strong push from consumers, medical experts, and pharmacological efficacy. They like untapped research and believe the future will open new frontiers for medical research and drug development, especially in the health and wellness market.

Tuatara works with companies such as Greendot, Teewinot, GCH, Slang Worldwide, CanAscen Group, Enlighten, CTPharma, Sumapaz, and more. 

About Horizon Ventures

Horizon Ventures invests in companies that use alternate methods of finding a solution to a problem. Their footprint reaches around the world. Some of their listed staff members include Solina Chau, Debbie Chang, and Jason Wong.  

Since they’ve invested in Demetrix, they believe in Demetrix’s ability to use biotechnology and fermentation to make cannabinoids more widespread and affordable.

Horizon Ventures invests in companies who find new ways to solve problems. Some companies they work with include Atomo, Zoom, Airwallex, Teraki, Surrozen, Trint, Synthace, and more.

Magnate Li Ka-shing is the current senior advisor for CK Hutchison Holdings. This group is an asset trader, which builds up new businesses and sells them off when shareholder value is made.

Media Contact
Company Name: Thrive Public Relations
Contact Person: Jessica Smith
Email: Send Email
Phone: (323) 310-4339
City: Los Angeles
State: California
Country: United States
Website: thrivepr.co