Oxford Cannabinoid Technologies — which is a pharmaceutical company developing cannabinoid-based prescription medicines — revealed on Tuesday it had raised $23.4 million from investors ahead of going public, according to MarketWatch.
The legendary West Coast Rapper’s Casa Verde investment fund is one of the main backers of the operation. The company currently boasts about a $68 million valuation. OCT plans to use these funds to develop about four cannabis-based pain remedy drugs by the time commercial sales are legal in 2027.
Oxford will be going public on the London Stock Exchange by the end of this week and at current pricing is valued at approx. GBP 48 million.