FloraWorks Announces the Closing of Lead Investor in Series A Financing
- Written by Newsfile
Portland, Oregon--(Newsfile Corp. - December 15, 2022) - FloraWorks Holdings Inc. (the "Company" or "FloraWorks"), a biotech company specializing in rare and novel cannabinoids, is pleased to announce the initial closing of its Series A financing with its lead investor BVE Select Fund II, L.P., the second life sciences venture fund of Bonaventure Equity, LLC ("BVE"). BVE's Founder and Managing Partner, Ross O'Brien, will be joining the Company's board of directors. This latest round of funding will support FloraWork's efforts in bringing the therapeutic benefits of cannabinoids to the forefront of modern medicine.
FloraWorks is committed to exploring and developing new cannabinoids that have the potential to address various unmet medical needs. The FloraWorks team believes that the therapeutic utility of cannabinoids is far from fully understood and that they have the potential to provide solutions for a range of conditions, from sleep disorders to Alzheimer's disease.
The Company's proprietary processing technologies and extensive research and development efforts are aimed at making these rare and novel cannabinoids viable for use in medical treatments.
"We are thrilled to have the support of BVE as we continue to unlock the therapeutic potential of cannabinoids," said FloraWorks CEO, Alleh Lindquist. "This latest round of financing will help us accelerate our efforts to bring promising treatments to patients in need."
With the support of BVE, FloraWorks is well-positioned to continue its mission of bringing the benefits of cannabinoid therapeutics to people around the world.
"We are excited to partner with Alleh and FloraWorks at this inflection point." Ross O'Brien, Founder and Managing Partner of BVE goes on to say: "We look for companies that are way ahead of the market in terms of building pharmaceutical quality products. FloraWorks stands out as the scientific and commercial team that has been successful in expanding the cannabinoid consumer markets with high-quality efficacious products, while also successfully completing research studies with proprietary molecules in partnership with leading research organizations."
About FloraWorksFloraWorks Holdings Inc. ("FloraWorks") is a biotech enterprise that specializes in rare and novel cannabinoids, from discovery to commercialization. FloraWorks looks beyond THC and CBD to identify promising new cannabinoids and make them viable through proprietary processing technologies, toxicology studies, and efficacy research.
About BVEBonaventure Equity, LLC ("BVE") is a life sciences venture capital firm investing in cannabinoid and psychedelic innovations. BVE partners with dynamic founders and management teams at the forefront of scientific breakthroughs on the path to commercialization. Along with capital, BVE provides access to regulatory, scientific, and clinical expertise in support of the teams they back as they pioneer ventures poised to transform major global healthcare markets.
For more information, please contact:Michael Thalemichael@flora-works.com[1]503-929-6242
FloraWorks Media Kithttps://flora-works.com/media-kit/[2]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148236[3]
References
- ^ michael@flora-works.com (www.newsfilecorp.com)
- ^ https://flora-works.com/media-kit/ (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/148236 (www.newsfilecorp.com)