The company behind Scotland’s first medicinal cannabis cultivation and soon-to-be production facility has raised millions of dollars from investors.
Hilltop Leaf is a privately owned firm established to supply full spectrum cannabis medicines. It currently holds a Manufacturers “Specials” Licence, which was granted by the UK’s Medicines and Healthcare Products Regulatory Agency. Earlier this month, the company announced receipt of an MHRA Wholesaler Dealer Authorisation to its existing MHRA licences, enabling the firm to trade with European counterparts along with other global entities.
Hilltop Leaf has already completed construction of an 11,000 sq m production facility in southern Scotland, where plants will be grown under high security and climate controlled conditions. Cultivation will be to Good Agricultural and Collection Practices (GAcP) standards with EU Good Manufacturing Practice (GMP) drying and processing. The extraction facility, which will also operate to EU GMP standards, will be constructed alongside the cultivation area within the same building.
The £2m recently raised from Traditum Private Equity and private investors will enable Hilltop Leaf to make its first commercial sales, and build on its infrastructure. While the company isn’t producing any medicines just yet, it has a promotional partnership with another firm relating to CBD products.
“Although medicinal cannabis use is growing, the UK relies solely on imports and we understand there is a problem with the reliability of the supply chain,” said Hilltop Leaf CEO, Hamish Clegg. “We aim to provide an affordable, high quality solution to treat conditions ranging from chronic pain to severe epilepsy, while easing pressure on the NHS.”
Hilltop Leaf is Traditum’s third healthtech deal in the last 6 months.
“We have been impressed by the strength of the company’s management team, their fastidious approach to quality and their vision to create a purpose-built facility backed by research and development,” said Traditum’s Tom Hurley. “Hilltop Leaf has the chance to gain an early mover advantage and become a clear leader in the UK’s emerging medicinal cannabis industry.”
The company previously received support from South of Scotland Enterprise (SOSE) – a £690,000 capital investment that was used in the construction of the existing facility.