A County Durham firm pioneering investigations of cannabidoil (CBD) - an active ingredient in cannabis - has landed nearly £500,000 funding to support research and manufacturing with hope for future jobs.
Canna Group has received the sum from innovation agency Innovate UK to develop bespoke technology to manufacture CBD-HQ - an oxidised version of CBD, which occurs when cannabis or hemp is left open to the elements and is said to be more easily absorbed by the human body. The Consett-based firm says it could be the first such funding for a UK cannabis business and will now develop proprietary cannabidiol synthesis technology.
Americo Folcarelli, chief marketing officer of Canna Group, said: "Naturally, we are very pleased to receive this award from Innovate UK which will help speed-up the development of our proprietary technology for the synthesis of CBD-HQ here in the North East of England."
