A Big Tobacco company which invested in a medical cannabis startup will not influence how the smaller firm is run, according to bosses at Oxford Cannabinoid Technologies.
The UK-based firm secured funding earlier this year from Imperial Brands and other businesses including venture capital firm Casa Verde Capital – founded by hip-hop star and renowned cannabis enthusiast Snoop Dogg. The largest partner remains Kingsley Capital Partners, a London-based venture capital firm.
Imperial will be taking a hands-off approach.
OCT managing consultant Fraser Schurer-Lewis said: “Imperial’s investment represents only a small percentage of the total value of OCT. Imperial Brands has no management input or direction into the work of OCT.”
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