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QNTM Labs Secures €3.5m in Funding to Drive EU-GMP Analysis for Cannabis Pharmaceuticals

QNTM Labs' Head of Quality Control, Joan Skov (right) shows medical cannabis sample to Connor Murphy, COO (left) and Justin Ihnken, CEO (middle)

ODENSE, DENMARK, September 16, 2021 /EINPresswire.com/ -- QNTM Labs, a pharmaceutical laboratory developing analytical methods for cannabinoid-based products, today announced it has completed a €3.5m funding round led by a consortium of strategic and private investors.

QNTM Labs is the first analytical laboratory dedicated to implementing a full suite of GMP-level analysis to advance medical cannabis standards. This funding will enable QNTM Labs to scale to meet the demand from European medical cannabis producers for QNTM's robust analysis.

“We are pushing the cannabis industry to take a high standard pharmaceutical approach and challenging how the lab industry works in the process, as traditional lab facilities struggle to deliver medical cannabis testing at EU-GMP standards.” said Justin Ihnken, CEO & Co-founder of QNTM Labs. “We are solving a global problem for the cannabis industry that needs access to high standard, robust, and reliable scientific analysis.”

Cannabis legalization is unlocking a multi-billion dollar regulated prescription drug market, where analytical laboratories play a pivotal role in enabling science to pursue patient therapies, develop product formulations, and deliver safety compliance testing. Denmark approved a medical cannabis framework in 2018 and has since built up a leading production hub of EU-GMP medical cannabis products.

Though Denmark has taken major steps establishing a medical cannabis ecosystem, it also faces similar challenges seen across cannabis markets on a global scale. In particular, Danish producers have struggled significantly to find laboratories with the capabilities of conducting reliable analysis on complex cannabis matrices.

“This latest funding round will allow QNTM Labs to expand our existing R&D testing capabilities to include analytical services for complete EU-GMP certified testing, while also catering to the global demand for research, discovery, as well as exploratory projects aimed in furthering clinical studies and pharmaceutical-grade cannabinoid applications” said Connor Murphy, COO & Co-founder of QNTM Labs

Before this funding round, QNTM Labs developed operations rapidly and has been performing commercial analyses on contract basis for multiple cannabis producers. By leveraging their unique approach of combining innovative R&D with high standard regulatory compliance, QNTM Labs has also established key partnerships with Southern Denmark University, analytical technology suppliers, and become a member of the Medicon Valley Alliance. Driving these milestones is QNTM Lab’s team of 10+ employees including industry experts and PhDs focused in natural product chemistry with experience spanning R&D as well as EU-GMP quality control and quality assurance.

About QNTM Labs:

QNTM Labs is an advanced analytical laboratory providing research, development, and regulatory compliance services for pharmaceutical companies. Founded in 2020 and headquartered in Odense, Denmark, QNTM Labs is dedicated to developing innovative analytical methods while maintaining the highest quality levels to forge new industry standards. As global sentiment is increasingly focused on quality data, QNTM Labs is determined to improve transparency and access to robust scientific analysis, working hand-in-hand with global cultivators, API manufacturers, and pharmaceutical industry stakeholders through analytical testing, contract research and clinical trials support.

Connor Murphy
QNTM Labs
InvestorRelations@qntmlabs.com
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