Ananda Developments Plc (AQSE:ANA) has raised £150,000 from new shareholders by issuing new shares at a price of 0.35 pence each.
The funds will be used to support general operations and advance the company’s work on patents and regulatory approvals for its cannabinoid-based therapies.
CEO Melissa Sturgess said: "We are delighted to welcome more long-term investors to Ananda.
"The funds will be put to good use in our mission to deliver regulated cannabinoid-based medicines to patients alongside the over £2 million we successfully raised in September."