Although it is not directly about CBIS, it does show interest on the institutional side for the science. I'm surprised this wasn't a press release...lol.
This is from August 6th 2009
Economy: Prominent US healthcare fund subscribes for significant equity stake in GW Pharmaceuticals
GW Pharmaceuticals won a significant endorsement for its cannabis-based medicines on 6 August as US investor Great Point Partners bought a multi-million pound stake in the company, sending GW shares sharply higher. The British company, which grows cannabis plants in secret locations for producing its cannabis extract Sativex, said other institutional investors were likely to follow Great Point in taking a stake in the company.
"Apparently Great Point are ... often seen as a fundraising leader so people look at what these guys are doing and end up following," analyst Paul Cuddon told Reuters. Earlier GW said it had raised 11.2 million US Dollars (about 7.9 million EURos) by selling new shares to M&G Investment Management, already its largest institutional shareholder. Great Point, which made an unsolicited request to take a significant stake in GW, is to subscribe for 7.6 million new shares at 78 pence per share (about 6.8 million EURos, about 9.7 million US Dollars). David Kroin, a founder of Great Point, said in a statement: "Great Point has been following GW for some time and has identified it as a compelling investment opportunity, particularly following the recent strong clinical data on Sativex."
More at:
- www.reuters.com/article/americasMergersNews/idUSL616774120090806
- www.gwpharm.com
