Synthetic cannabinoid maker Nalu Bio raises $12 million

Nalu Bio, a producer of synthetic cannabinoids, said it raised $12 million in a Series A funding round led by Intrinsic Capital Partners, a Pennsylvania-based investment firm focused on life science and technology businesses in the legal marijuana and hemp industries.

The investment in the San Francisco-based company, announced in a Tuesday news release, comes amid a tough stretch of raising capital in the hemp and marijuana sectors, where deals are in short supply and terms costly.

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State regulators are also taking a much more stringent view on cannabinoids, with Connecticut, Virginia and Utah cracking down on the production and sale of delta-8 products and their derivatives.

Lawmakers in West Virginia are also proposing a ban on products containing delta-8 THC.

Other backers in the funding round include Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group

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Nalu Bio, a producer of synthetic cannabinoids, said it raised $12 million in a Series A funding round led by… Continue reading
The post Synthetic cannabinoid maker Nalu Bio raises $12 million appeared first on GrowCola.com.