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Frankfurt-based medical cannabis research and development startup Farmako has secured a seven-figure seed funding from German health tech platform Heartbeat Labs. Cannabis owns an immense therapeutic aspect of chronic pain management. Since the early 20th century, the research of weed products remained to be banned or constrained due to governmental policies across the globe. The funding will boost up Farmako for its mission to replenish the research of remedial benefits of cannabis keeping the wellbeing of millions of patients worldwide in mind.
Founder and CEO of Heartbeat Labs, Eckhardt Weber expressed, “The market for alternative medicines is a very relevant and rapidly growing area of pharmaceutical healthcare. Farmako complements our portfolio and we’re continuing to establish Heartbeat Labs as the leading platform for modernizing the healthcare sector.”
Farmako co-founder Sebastian Diemer elucidated, “We want to become European market leader in medical cannabis. With Heartbeat Labs, we have the ideal partner for health disruptions on board.”
Farmako – the pioneer in cannabinoid therapies in European pharmaceutical space
Farmako has been started by Niklas Kouparanis, Mario Reichenbach, Sebastian Diemer, Torsten Rössing, Patrick Schmitt and Marcus Ewald in the year 2018 itself. The German startup is functional in all European markets where the application of medical cannabis is legitimate.
Niklas Kouparanis, the co-founder of Farmako, explained, “The European market is becoming more professional. Farmako wants to drive change as a research-based pharmaceutical company. With the investment of Heartbeat Labs, we have a strategic partner to help us make that change in the healthcare industry.”
With a team of physicians, scientists, pharmacists and industry experts, it is dedicated to offering an alternative choice of medicine for patients including cancer and AIDS. The pharmaceutical company will issue the information regarding its first patent in early 2019.
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