Irish GreenLight Medicines, a cannabis company based in Dublin and founded in 2014 has just closed a deal with SOL Global, a Canadian Listed investment group for 25% of the company.
SOL Global is an international investment company headed by Rob Reid, also an emerging and powerful player based in the UK but with connections to Canada, Europe and beyond.
Greenlight was founded by Dr. James Linden who previously founded a generic drug company called Eireceutica. It has built up a network of researchers across Ireland, Britain and North America, with research agreements at six academic institutions including Imperial College in London and University College in Dublin.
While the politicians battle on about Brexit, and the specter of both food and medical supplies are making national headlines on a regular basis, it seems clear that at least one drug, cannabis, may be available to British citizens whether the UK divorces itself from the rest of the world or not. That will be a relief to those who are watching a clock get awfully close to zero hour on crashing out of the EU without a deal in place.
Patient access is still a huge issue across Europe. In the UK, with almost no local or at least adjacent production, this has become a terrifying ordeal for those who have chronic illnesses who also want access to a medication that is emerging as the only long term, effective treatment for the same that is also non-addictive. Not to mention in a country where the NHS is facing a 100,000 doctor shortage, patient wait times are up, and cancer (for one) is becoming more and more of an existential threat.
With more local production now underway, although this is still a drop in the bucket, Ireland seems poised to become a major gateway for British patients.
The International Cannabis Business Conference is THE place to be to learn the latest about cannabis policy and industry developments in Europe and around the world. After its stop in San Francisco this February 7-8, the ICBC will be hosting events in Barcelona, Berlin, and Zurich, before heading back to North America for a conference in Vancouver in September. Discounted early-bird tickets are now on sale for all of the ICBC’s 2019 events.