London-based pharmaceutical company, Ananda Developments PLC, has successfully raised £600,000 for upcoming clinical trials and working capital. The funds were secured through a combination of cash investments from existing shareholders and the debt capitalization owed to Charles Morgan, the chair of Ananda.
The investment consists of £300,000 in cash raised from two existing shareholders, with an additional £300,000 in debt capitalization. As a result, Ananda’s outstanding unsecured debt under existing loan agreements now stands at £709,000. It is worth noting that Morgan has agreed not to call the loans until after January 31, 2025.
The secured funding will primarily be used for general working capital purposes and to further Ananda’s clinical trials in inflammatory pain conditions. The London Pharma Co is focused on developing cannabinoid-based medicines specifically designed to address chronic pain conditions.
By raising these funds, Ananda Developments PLC aims to propel its research and development initiatives forward. The company is dedicated to exploring new treatment options to alleviate the suffering of individuals with chronic pain, particularly those affected by inflammatory pain conditions.
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About Ananda Developments PLC:
Ananda Developments PLC is a London-based pharmaceutical company specializing in the development of cannabinoid-based medicines for chronic pain conditions. With a focus on research and development, Ananda is committed to advancing medical options for individuals suffering from debilitating pain. By leveraging the potential of cannabinoids, Ananda aims to offer effective and alternative solutions to those in need.
