SMP again advi­sed medi­cal canna­bis produ­cer and whole­sa­ler DEMECAN on its latest finan­cing round. A German entre­pre­neur from the consu­mer goods sector inves­ted an amount in the seven-digit range. Accor­ding to DEMECAN, the capi­tal raised will be used to expand their opera­ti­ons and produc­tion faci­lity as well as the company’s expan­sion. The parties invol­ved have agreed not to disc­lose further details of the deal. DEMECAN was again provi­ded with compre­hen­sive legal advice by a team led by SMP part­ner Martin Scha­per.

“DEMECAN is the only German company to have been awarded a contract by the BfArM to culti­vate and distri­bute medi­cal canna­bis in Germany,” says SMP part­ner Martin Scha­per. “We at SMP are ther­e­fore parti­cu­larly plea­sed that we were also able to accom­pany this finan­cing round as legal advisors.”

About DEMECAN
DEMECAN is the only German company that covers the entire value chain for medi­cal canna­bis, from culti­va­tion to proces­sing and storage to distri­bu­tion to phar­macies. The company was foun­ded in 2017 by Adrian Fischer, Corne­lius Maurer and Constan­tin von der Groe­ben to guaran­tee pati­ents in Germany access to medi­cal canna­bis of the highest phar­maceu­ti­cal quality. In May 2019, the German Fede­ral Insti­tute for Drugs and Medi­cal Devices (BfArM) awarded DEMECAN the contract to culti­vate medi­cal canna­bis. The DEMECAN Group is based in Berlin. The culti­va­tion and further proces­sing of medi­cinal canna­bis takes place at a second faci­lity near Dresden.

About SMP
SMP is a specia­list tax and commer­cial law firm opera­ting in the core areas of corpo­rate, funds, liti­ga­tion, tax and tran­sac­tions. SMP attor­neys and tax advi­sors repre­sent a wide variety of clients. These include emer­ging tech­no­logy compa­nies and family-run medium-sized enter­pri­ses as well as corpo­ra­ti­ons and private equity/venture capi­tal funds. Since its foun­da­tion in 2017, SMP has become one of the leading addres­ses for venture capi­tal, private equity and fund struc­tu­ring in Germany. The firm and its part­ners have been reco­gni­zed natio­nally and inter­na­tio­nally by JUVE, Best Lawy­ers, Legal 500, Focus, and Cham­bers and Part­ners. Today, SMP employs over 50 expe­ri­en­ced lawy­ers and tax advi­sors in three offices in Berlin, Hamburg and Colo­gne. www.smp.law

Consul­tant DEMECAN: SMP
Dr. Martin Scha­per, Partner
Daniel Grisar, Associate