News Break

U.K. firm backed by Star Trek star and Snoop Dogg to raise $50 million - 05-10


The U.K. company backed by Snoop Dogg’s venture firm and Star Trek actor Patrick Stewart is looking to raise additional funds to develop new cannabis drugs. Oxford Cannabinoid Technologies (OCT) is seeking close to $50 million to finance its work until around 2024, reports Canadian business website BNN Bloomberg. In 2018, OCT secured investments from the venture arm of tobacco giant Imperial Brands and $10m from Casa Verde Capital LLC, the Californian venture firm that counts rapper Snoop Dogg among its partners. It has also received backing from British actor Patrick Stewart, known for his role on Star Trek: The Next Generation and the X-Men movie franchise,