Snoop Dogg, through his venture capital firm Case Verde Capital, will invest $10 million into Oxford Cannabinoid Technologies (OCT). Sir Patrick Stewart, in addition, will serve as will serve on OCT’s Advisory Board.
Casa Verde Capital specializes on ancillary companies that do not touch the cannabis plant, which generally includes research and media companies. Snoop’s investment will help develop inflammation therapies, cancer treatments, and treatments for gastrointestinal diseases.
The company was established in 2017 to develop cannabinoid-based medicines. OCT is seeking out funding for a laboratory and research partnership based in Europe. Research includes the development of treatments for cancer, pain management, neurological disorders such as Parkinson’s and MS and inflammatory diseases.
Stewart recently admitted that he uses medical cannabis topically to alleviate problems with arthritis in his hands. “I am proud to become a patron of OCT,” Stewart told Metro. “It’s wonderful that OCT have got together the funding that means that Britain will lead the way in what is, in my view, one of the world’s most exciting fields of medical research. The possibilities seem to me to be virtually limitless.”
It’s the perfect time to invest in the future of cannabis. Neil Mahapatra, chairman of OCT, said “At a time when medical cannabis markets are opening across the world, it is still surprising how little focus appears to be dedicated to understanding the underlying molecular actions of cannabinoids.”
“We want to help fill this knowledge gap, ultimately developing medical products that could help a large number of people,” he added.
It’s one of the largest investments into OCT. The largest shareholder in OCT, Metro reports, is Kingsley Capital Partners, and Imperial Brands PLC also backing the firm.
Further appointments of OCT’s advisory board will be announced shortly.