NEW YORK and TAMPA, Florida, March 8, 2016 /PRNewswire/ -- CBC Biotechnologies, Inc., (CBCBio), a global leader in the use of synthetic biology to create pharmaceutical grade cannabinoids, announced today it has completed its $7 million Series A funding round led by Tuatara Capital, a New York - based private equity fund focused on investments in cannabis related companies. A driver for this investment is CBCBio's proprietary methods, which enable production of biocatalyzed cannabinoids that are rapidly produced, purer in form, have a greatly reduced environmental impact, and are more cost effective than what is currently available in the marketplace.
CBCBio is a biopharmaceutical company focused on the production of cannabinoids, and discovery, development, and commercialization of cannabinoid-based therapeutics for significant unmet medical needs across the globe.
"Tuatara has been actively searching for the premier business in cannabinoid research and development, and what we have found in CBCBio exceeds all expectations," said Robert Hunt, Partner, Tuatara Capital. "The patent suite that CBCBio possesses in this space puts them squarely in the lead position."
"As a global leader in the use of synthetic biology to create pharmaceutical grade cannabinoids, our technology enables opportunities that no other method has been able to achieve," said Jeffrey Korentur, CBCBio's President and CEO. "Our cutting edge technologies and market solutions represent a pioneering leap forward from current formulation, plant extraction, and chemical synthesis methods of production. We are pleased to partner with a market leader like Tuatara to help realize the future in pharmaceutical grade cannabinoids."
"CBCBio is scaling its proprietary methods for biocatalytic production of cannabinoids to produce large quantities of THC, CBD, CBC, and other compounds," says Dr. Richard Peet, Executive Vice President of CBCBio.
Tuatara's substantial funding further enables CBCBio's commitment to delivering cost effective, pharmaceutically pure cannabinoids in support of medical research, product development and implementation.
"Our partnership with Tuatara ensures our ability to bring CBCBio's proprietary technology to market and realize our position as the vanguard of cannabinoid sciences," stated Christopher Brink, Co-Founder and Director of CBCBio.
About CBC Biotechnologies, Inc.
CBC Biotechnologies, Inc. (CBCBio) is an international biopharmaceutical company focused on the use of synthetic biology and advanced formulation for the production and implementation of cannabinoid based therapies. With U.S. headquarters in Tampa, Florida, CBCBio manufactures and licenses technology to make cost effective, pharmaceutically pure cannabinoids as an industry leader in support of advancing medical research and product development. CBCBio's global technology and intellectual property represent a breakthrough in the creation and delivery of cannabinoid based medicines. For more information, please visit www.cbcbiotech.com
About Tuatara Capital, L.P.
Tuatara Capital, L.P. is a specialized alternative investment manager that focuses exclusively on the legal cannabis industry. Tuatara makes investments throughout the supply chain from genetics through consumer consumption. For more information, please visit www.tuataracapital.com
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CBC Biotechnologies, Inc.
Jeffrey M. Korentur
President & CEO
SOURCE CBC Biotechnologies, Inc.