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News analysis

UK company raises £7.4m for medicinal cannabis research

Written by || 15th January 2019 || News analysis | Companies | Technology and innovation | GeographiesEngland Europe United Kingdom

A British biopharmaceutical company will be trialling the use of CBD and other hemp-based products for treating opioid addiction, as well as other conditions.

Beckley Canopy Therapeutics has raised £7.4m to carry out research into the use of various extracts from the cannabis plant in order to develop medicines for people suffering cancer-related pain. In comparison, the US  National Center for Complementary and Integrative Health (NCCIH) has said it would spend up to $1.5m to fund research on minor cannabinoids and terpenes in the cannabis plant as it relates to responses to pain.

It is also hoped that any new treatments will be used to help reduce the use of opioid-based painkillers – a possible application of CBD in which there is already a great deal of interest.

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