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In November of 2018, the UK legalised the use of cannabis-based medicines. Recent legalisation of its medical use worldwide has also increased momentum on an international scale. Even in 2020 the global cannabis market size was valued at $9.1bn. The European market grew by 25% between 2019 to 2020 and it’s expected to reach $3.1bn by 2025.
Whilst this is still a comparatively new industry, the potential of cannabinoid medicine is significant. In the UK, 40% of the population suffer from chronic pain, rising to 60% among those aged 75 and over. A popular solution has been the prescription of opioids, the UK having the fastest growing rate of opioid use in the world, rising by 22% over the past decade (approximately 40 million prescriptions a year).
However, opioids can be extremely addictive for patients which means they are not a sustainable option long-term. A 2015 American study, found that access to cannabis medicines is linked to a reduction of opioid overdose deaths of up to 31%. With more than 100 cannabinoids identified so far, Grow is eager to unlock the potential of medicinal cannabis.
Grow is a UK-based biopharmaceutical company. Founded in 2017, their driving focus is to unlock the untapped potential of medicinal cannabis. With an impressive goal to be the world’s leading medicinal cannabis provider by 2025 while providing their products and services at an affordable price, Grow is raising funds to take its work to the next level.
Grow’s team is made up of expert leaders across cannabis, pharma, and R&D, ensuring credibility and a high quality standard. The medications they supply to patients meet the EU GMP standards required to be imported and prescribed across the UK and EU. With a few patents already to their name, more than 1,200 monthly patients and European expansion underway, Grow is achieving incredible success – in the first quarter of 2021, they generated £1.2m in revenue*.
Grow works with healthcare practitioners, pharmacies, and manufacturers of cannabis medicines, and the funds they raise will be used to grow their team, expand their geographical reach, and for capital and operational expenditure. Current revenue streams include the supply of prescription cannabis medicines, wholesale distribution and market access services – with funding, this will be scaled to international supply deals, clinical trials and licensing of their R&D technology to cannabis operators.
CEO of Grow, Ben Langley, invites like-minded investors to join the Grow community. With future plans to IPO, an important part of Grow’s current expansion is opening its doors to new investors who are passionate about helping people, improving lives, and shaping the future of healthcare.
To find out more about Grow, and for the opportunity to invest, visit the pitch now.
*Based on unaudited management results.