Overseed funding news – French-based Overseed Secures €6.7Million in Funding

In this regard, Overseed Biotech, a company that focuses on agronomic research and the creation of cannabis-derived medications, has announced a €6.7 million fundraising campaign. This comes after the company completed a €2.5 million seed round in 2022.

The seed capital fund of the Centre-Val de Loire area, overseen by UI Investissement, and Anthony Bourbon's Blast.Club have obtained this round. The European Union (Feder funds) promotes young, creative enterprises in the region.

After securing the first French R&D permit for the Cannabis sativa L. plant in 2021, Overseed became a founding member of Santé France Cannabis, the French association of medical cannabis players. Since then, the French start-up in the Centre area has completed its research programme, which included varietal selection, the production of active ingredients of pharmaceutical quality, and the continuous improvement of its medications.

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Simultaneously, the business has established a network of knowledgeable suppliers, including Stanipharm for the extraction and formulation of active substances and Pharm&Beauty group for the manufacturing of pharmaceutical products that are ready for patient delivery. Overseed will eventually own the go-to-market permission for the medications, ensuring the security of "Best in Class" goods.

A highly competitive production process as close to the patients as possible will be made possible by the investments made and the merger of the greatest French skills. This entirely French sector will ensure patient supply security and the sovereignty of medicinal cannabis within the country.

The business will be able to provide both packed and completed goods. Overseed has decided to focus on a trio of oral products for the time being. In partnership with a well-known French pharmaceutical business that has distribution capabilities in France and possibly Europe, these medications will be introduced to the market.

Hugues Péribère, CEO and founder of Overseed said, “On the French market, we are 2 to 3 years ahead in terms of manufacturing expertise, and will be ready to offer high-quality, high-volume production from day 1. This financing is the final sprint to market access. We are counting on the interest of the authorities to facilitate a rapid assessment of our case, so that we can get to market as quickly as possible”.

About Overseed

French biotech company Overseed aims to become an expert in the production of medicinal cannabis by combining its cutting-edge knowledge in organic chemistry, pharma, genetics, and agronomy. Overseed advances the cultivation and study of cannabis for therapeutic purposes. For use in labs, we manufacture full spectrum extracts, dried flowers, and pure pharmaceutical-grade active compounds.