The investment was led by DSM Venturing, the corporate venture arm of Royal DSM
Brains Bioceutical Corp has announced the completion of a $31.9m capital raise with DSM Venturing and existing shareholders. DSM Venturing, which acted as lead investor in this round, is the corporate venture arm of Royal DSM. This investment and strategic transaction solidifies Brains’ position in the cannabinoid (CBD) sector.
“The completion of the capital raise marks an exciting milestone for the Brains’ team. To have the confidence of DSM in this next round solidifies Brains strategic position within the pharmaceutical industry,” said Brains' CEO & Chairman Rick Brar. “The growing demand for isolated CBD active pharmaceutical ingredients (API’s) within the pharmaceutical and nutraceutical industry continues to expand. Our team has worked tirelessly to position Brains as the market leader within the CBD industry. Our suite of licences has allowed Brains to scale rapidly within the industry,” Brar continued.
Pieter Wolters, MD DSM Venturing, commented: “The CBD market is fast-growing, powered by increasingly strong scientific evidence that demonstrate the potential of CBD API’s in a number of therapeutic areas. Also, consumers increasingly turn to CBD’s to address health issues. Brains unparalleled expertise and manufacturing capabilities in the CBD space combined with DSM’s unique scientific and marketing capabilities in the pharmaceutical sector make this the ideal partnership to help pharmaceutical players realising the potential of CBD’s for early stage drug development.”
Brains produces CBD as an API for pharmaceutical applications, research, development, and clinical trials. The manufacturer also has EU-GMDP certification, producing CBD API for both human and veterinary use within a MHRA licensed facility. Its CBD API contains 99.7% CBD and zero Tetrahydrocannabinol (THC).
The phyto-cannabinoid CBD API has been tested by the INRS Laboratory, a World Anti-Doping Agency (WADA) facility. These screening reports have confirmed that Brains’ CBD API is free of THC, pesticides and other banned substances.
The company has also launched its branded nutraceutical CBD “Brains Pure” products in the UK. All of its products, whether branded or white-labelled, including a partnership with a UK vitamin company, will bear the ‘Brains Inside’ trademark, providing a stamp of quality assurance. Brains is also positioned to navigate the Food Standards Association (FSA) requirements in the UK and the European Food Safety Authority (EFSA) requirements in Europe for CBD products.