Advised by Zerbach & Company Corporate Finance GmbH ("Z&C"), the family office PHK Enterprise has acquired a minority stake in DEMECAN and supported the company in a second financing round with growth capital in the seven-figure range. PHK Enterprise now joins the existing group of investors, which, in addition to the three DEMECAN founders, includes the investor network Btov Partners as well as the family office of Bernhard Schadeberg, the owner of the Krombacher brewery.
DEMECAN is the only German company that covers all production steps for medical cannabis from a single source, from cultivation through processing and storage to nationwide delivery to pharmacies. The financing serves to expand the company's own operating and production site and marks the starting point for the company's further growth trajectory. Through domestic production, DEMECAN will guarantee the supply of medical cannabis of the highest product quality to patients in Germany.
The coronavirus pandemic underscores once again the importance of domestic production for national patient care. Border closures are in part exacerbating existing supply gaps and could jeopardise international supply chains in the long term.
Dr. Constantin von der Groeben, co-founder and Managing Director of DEMECAN, explains: "The market for medical cannabis continues to grow rapidly, despite coronavirus. DEMECAN has been involved from the very beginning, with the goal of supplying patients in Germany consistently and reliably with medical cannabis of the highest quality. To this end, we are expanding our production site near Dresden. We are delighted to have another strong and experienced partner at our side for our mission."
