GW Pharmaceuticals raises $345.2m development capital
GW Pharmaceuticals, a Cambridge company going great guns in the US with its cannabis-based products, has raised $345.23 million from a public offering of shares on NASDAQ.
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, J.P. Morgan and Cowen and Company, LLC acted as joint book-running managers for the offering.
Founded in 1998, GW is focused on discovering, developing and commercialising novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas.
Along with its US subsidiary Greenwich Biosciences, GW has received U.S. FDA approval for EPIDIOLEX (cannabidiol) oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age or older. The company has submitted a regulatory application in Europe for the adjunctive therapy of seizures associated with LGS and Dravet syndrome.
GW continues to evaluate EPIDIOLEX in additional rare epilepsy conditions and currently has ongoing clinical trials in tuberous sclerosis complex.
GW commercialised the world’s first plant-derived cannabinoid prescription drug, Sativex® (nabiximols), which is approved for the treatment of spasticity due to multiple sclerosis in numerous countries outside the United States and for which the company is now planning a US Phase 3 trial.
GW, piloted by US-based CEO Justin Gover, says it has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and Phase 2 trials for epilepsy, glioblastoma, autism spectrum disorder and schizophrenia.