Berlin - SMP has advised DEMECAN on its latest financing round. The company is the only producer and wholesaler of medical cannabis. A German entrepreneur from the consumer goods sector invested a seven-digit amount. According to DEMECAN, the capital raised will be used to expand their business and production facilities. The parties have agreed not to disclose further details of the deal. DEMECAN was again comprehensively advised by a team led by SMP partner Martin Schaper.
"DEMECAN is the only German company to have been awarded the contract by the BfArM for the cultivation and distribution of medical cannabis in Germany," says SMP partner Martin Schaper. "We are therefore particularly pleased that we were also able to advise on this financing round as legal advisors."
DEMECAN is the only German company that covers the entire value chain for medical cannabis from cultivation, processing and storage to distribution to pharmacies. The company was founded in 2017 by Dr. Adrian Fischer, Dr. Cornelius Maurer and Dr. Constantin von der Groeben to guarantee patients in Germany access to medical cannabis of the highest pharmaceutical quality. In May 2019 the Federal Institute for Drugs and Medical Devices (BfArM) awarded DEMECAN the contract for the cultivation of medical cannabis. The DEMECAN Group is based in Berlin. The cultivation and further processing of medical cannabis takes place in a second facility near Dresden.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 50 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.