National

Cannexpor Pharma receives funding of 2,8 million from Portugal 2020

Published

3 years ago

July 26, 2021

Antonio João Costa

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Photo: DR | Cannexby Pharma

The Portuguese company Cannexpor Pharma recently announced that it has received funding from the Portugal 2020 program for an investment of around 2.8 million Euros in its medical cannabis facilities, in the municipality of Condeixa.

According to a company statement, Cannexpor Pharma was able to demonstrate that the submitted project, in addition to having economic viability and great prospects, has great value for the economic growth of Portugal.

In total, the company received €1.4 million as a non-repayable loan and the same amount as an additional loan at zero interest. This funding will be used to purchase equipment for the GMP facilities that will be, according to the statement, one of the most innovative in terms of cannabis production in Europe.

The Portugal 2020 initiative is a government program created to support local projects with great potential, through EU funding.

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[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]

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Antonio João Costa

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I am one of the directors of CannaReporter, which I founded together with Laura Ramos. I am from the unique Island of Madeira, where I currently reside. While I was in Lisbon at FCUL studying Physical Engineering, I became involved in the national hemp and cannabis scene and participated in several associations, some of which I am still a member of. I follow the global industry and especially legislative advances regarding the different uses of cannabis.

I can be contacted by email at joao.costa@cannareporter.eu