California-based Demetrix secured $50 million in a Series A funding, which the company will use for research of synthetic cannabinoid production.
The Emeryville company wants to use baker’s yeast to produce large volumes of cannabinoids. More than 100 of cannabinoids can be found in the cannabis plant, sometimes in trace amounts.
The company did not specify which cannabinoids it is focusing on.
The funding round was led by New York-based investment group Tuatara Capital with support from an existing investor, Horizons Ventures of Hong Kong.
Horizons Ventures, which led an initial $11 million Series Seed round in Demetrix, is the private investment arm of Chinese business magnate Li Ka-shing.
More details on the funding can be found in this news release.
For a more in-depth look at biosynthesis, please sign up for our Investor Intelligence subscription site, which features this related story.
Subscribe to our Newsletter
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers