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Teewinot Life Sciences – a Florida company that develops synthetic, cannabinoid-based medical therapies – raised $12.3 million in a Series B funding that attracted strong investor interest.
It’s the latest sign that investors remain keen on the marijuana sector. And it comes despite Trump the administration’s mixed messages about marijuana policy.
Teewinot said in a news release the funding was almost 25% oversubscribed, based on the company’s $10 million goal.
The company will use the money for research and development, landing more patents and increasing business development opportunities.