Tilray Raises $60M to Expand Distribution Worldwide

Tilray, a global leader in medical cannabis research and production and wholly owned subsidiary of Privateer Holdings, announced today that the company has closed $60M from a recently closed Series A funding by a collection of global investors in the sector.

Tilray, which holds legal licenses in Europe and Canada, plans to use the funding to expand production and distribution capabilities across both continents and currently has operations in 8 different countries. Tilray hold a supply agreement to one of the largest pharmaceutical retail chains in Canada, Shoppers Drug Market, and agreement with one of the largest supply chain drugstores in Germany, NOWEDA.

Tilray sets the industry standard for the production and distribution of pharmaceutical grade cannabis products. The company owns an array of different companies with operations on different continents such as Australia and New Zealand (Tilray Australia New Zealand Pty Ltd), Canada (Tilray Canada Ltd), Germany (Tilray Deutschland GmbH), and Portugal (Tilray Portugal Unipessoal Lda).

Timeline From the Press Release:

  • In January 2017, Tilray’s state-of-the-art research and production facility in British Columbia became the first licensed producer of medical cannabis to be Good Manufacturing Practices (GMP) certified in accordance with European Medicine Agency (EMA) standards.
  • In February 2017, Tilray exported products to New Zealand and Chile.
  • In May 2017, Tilray completed the first bulk export of medical cannabis to Australia, exported products to Cyprus and introduced its products to Chilean pharmacies in partnership with Alef Biotechnology.
  • In June 2017, Tilray announced the formation of its Medical Advisory Board and a clinical trial at McGill University to study the efficacy of medical cannabis for chronic obstructive pulmonary disease (COPD).
  • In May 2017, Tilray expanded availability of its products to Cyprus.
    In August 2017, Tilray announced a C$30 million investment in a second Canadian facility in Ontario.
  • In September 2017, Tilray announced a €20 million investment to establish a state-of-the-art EU Campus in Portugal to produce, package, and distribute medical cannabis across Europe.
  • In October 2017, Tilray became the first company to offer full spectrum medical cannabis extracts in Germany in partnership with two of the country’s leading pharmaceutical wholesalers.
  • In November 2017, Tilray successfully imported live cannabis genetics into the EU and began cultivating medical cannabis at its EU Campus in Portugal.
  • In December 2017, the Czech Republic became the fourth EU member state served by Tilray.
  • In January 2018, Tilray signed a supply agreement with Shoppers Drug Mart.