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Synbiotic raises seven million euros

The cannabis company has been listed on the German stock exchange since 2019. It has now issued 334,000 new shares.

Sophie Deistler · Stuttgart, 28. October 2021

Synbiotic raises seven million euros — Lars Müller ist CEO von Synbiotic. (Foto: Synbiotic)

The cannabis company Synbiotic has been listed on the German stock exchange since 2019. It has now issued 334,000 new shares.

The Munich-based start-up Synbiotic has raised a further seven million euros from shareholders. The cannabis company has sold 334,000 new shares to institutional investors at a price of 21 euros per share.

The cannabis company wants to use the capital increase to expand and become the European market leader for cannabis. Strategic takeovers are also planned, the company announced. "The new government in Germany is now giving us additional tailwind. The details are not yet known, but we expect a significant step forward in terms of legalization and commercialization," says CEO Lars Müller. "As the market leader in Germany, we are ideally positioned to turn this tailwind into market share expansion and sales growth."

Synbiotic researches new cannabinoids and distributes medical CBD for the treatment of pain, sleep and anxiety disorders. Since its IPO in November 2019, the company has raised more than 13 million euros.

Aktienausgabe Cannabis Synbiotic

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