Piauhy Labs, one of Portugal’s leading biotech & medical cannabis firms has completed its latest funding round led by Migration Capital, a private investment company based in the Greater Boston Area. This investment represents one of the most important cannabis financing rounds in Portugal to date.
“We have been evaluating opportunities in the Cannabis space for several years and Piauhy’s scientific approach to medical cannabis aligned well with our investment philosophy. We are impressed with the scientific endeavors of the company, its capital efficiency and the timing of the European medical cannabis market. Our investment, combined with the expertise of the company’s team, led by its CEO, Eduardo Sampaio, will thrust Piauhy’s growth and differentiation from other companies in the medicinal cannabis industry“, said Estevao Latini, Director of Alternative Investments at Migration Capital.
Piauhy Labs aspires to transform Portugal into an international center of excellence in medical cannabis by focusing its efforts on three pillars: medical scientific dedication, patients’ needs and adherence to the pharmaceutical industry best practices.
The company was created in 2018 by Eduardo Sampaio, an influential expert in the industry and founder of two other medical cannabis enterprises. He was joined by a group of five scientists, with PhDs and post doctorates from some of the world’s most prominent Universities in areas such as neurosciences, chemistry, and molecular biology. Together they identified the need for higher quality medicines in the cannabis industry, and the opportunity associated with development of new cannabinoids-based compounds.
In 2020, Infarmed, the Portuguese National Authority for Medicines and Health Products, granted Piauhy with a pre-license for cultivation, import and export of Cannabis sativa L plants. In parallel Piauhy Labs has already started the construction of its facility. It follows the Good Manufacturing Practices (GMP- EU) and the European Medicine Agency (EMA) standards. This high-end Lab and facility will be capable of producing medical cannabis products with the highest pharmaceutical grade standards.
This round proceeds allow Piauhy to advance with the facility construction, initiate the R&D protocols and foster its commercial efforts.
“We are very happy with this important milestone and delighted that Migration’s focus on disruptive innovations matched our ambitions. We are at the crossroads of biotech, neurosciences and medical cannabis”, says Eduardo Sampaio, CEO and founder. “The success of Piauhy Labs is intrinsically linked to the world-class scientific research we are leading in partnership with local universities and scientific partners in Portugal, Brazil and California. We are building a pharmaceutical company for the future where personalized medicine is crafted to the patient’s genetics and epigenetics characteristics“.
About Migration Capital
Migration Capital is a private investment company based in Greater Boston Area, with a Program based on patience and generational value creation, leveraging on long-term relationships with sector specialists. Supported by a permanent capital base, Migration operates with an opportunistic approach, without mandate constraints or fundraising concerns. The company is focused on sectors positioned for innovative disruption and exponential growth, such as Biotech, and favors companies with capital efficiency and sustainable competitive advantage.
About Piauhy Labs
An European based science driven medical cannabis company, committed to producing high quality, personalized medicine – Positioned at the crossroad of biotechnology, neuroscience, and medicinal cannabis.