Cannaray has announced the fulfilment of its first UK medical cannabis prescription.
This follows a £7.8 million Series A funding round in 2019 for the new cannabis company.
Medical Cannabis prescription fulfilment
The cannabis prescription fulfilment was prescribed to Jorja Emerson. Jorja is a three-year-old British girl suffering from a severe form of epilepsy.
Aphria Inc., one of the world’s biggest cannabis companies, worked with Cannaray to fulfil this prescription.
This shows a real progression in the quest to allow greater access for patients to pioneering treatments based on medical cannabis.
Aphria Inc. were able to use their novel cannabis formulations and delivery systems that are to European medical standards which are currently not available from other sources for UK patients.
Medical cannabis funding
As we mentioned, in 2019 Cannaray secured Series A funding to the tune of £7.8 million. A significant milestone and now they have cemented their position as one of Europe’s leading Medical Cannabis and CBD companies.
For those who don't know – Series A funding is the first significant amount of capital raised for a company. The name refers to the kind of preferred kind of stock given.
Scott Maguire, Cannaray CEO, said that “Working with the medical community to provide specialist support and access to cannabis-based drugs for patients in dire need of this treatment is fundamental to our strategy.
“We are pleased to assist Robin in accessing treatment for his daughter and we will continue to drive for broader and continuous cannabis access for patients.”
Jorja’s father, Robin Emerson has been appointed as the business’s first Director of Patient Support.
Mr. Emerson will work with other Cannaray patients and families providing support. He will also offer his own first-hand insight to those seeking prescriptions or undergoing treatment.
Commenting on the new position Mr. Emerson stated, “I am delighted to join the Cannaray team in being able to bring real-world knowledge for the company to understand the patient needs and requirements.”
Cannarary announced that they are starting a new round for expansion in 2020 following on from the success of the most recent funding outreach.
Cannaray has further appointed Gregor Zorn as the company’s Chief Scientific Officer. Zorn has already had a rich career in Medical Cannabis research and is one of the leading names in the evolution of Medical Cannabis as a treatment and therapy.
“Improvements in technology and dedicated research have allowed us to start understanding the full potential of this healing plant,” said Zorn.
“I am honoured to be joining this amazing team of professionals and I am looking forward to adding my expertise in achieving Cannarays vision of providing patients with the best medical cannabis and cannabinoid-based products.”
Only UK-based company working with Scientific Advisory Board
Cannaray is also the only UK-based medical cannabis and CBD business with a Scientific Advisory Board. This board is specially comprised of specialists that act as key opinion leaders in the cannabis industry.
Together they cover the five main areas for medical cannabis use in the UK. These areas are as follows
- Multiple Sclerosis
- Chemo-Induced Nausea
- Chronic Pain
It is expected that the global cannabis market should reach well into the billions by the middle of the decade.
In fact, the cannabis market is predicted to grow by 23.9% over the next half a decade. This is according to a new report by Grand View Research Inc.
At the moment this is all speculation, and there are no guarantees but things look hopeful.
Cannabis is still illegal in the United Kingdom. However, it's hoped that the changing public opinion and COVID-19 pressures on the national debt will incur a quicker turnaround on legislation.