Daily News: May 6, 2019

InnovateUK Provides Up to $65MM Facility to Senzer

Senzer received a credit facility of up to £50 million ($65 million) from Innovate UK, the UK Government-backed department that business that can demonstrate extraordinary innovation and potential to the UK economy.

After a rigorous application process, the facility was awarded to Senzer as part of Innovate UK’s program of fostering innovation SMEs to commercialize technology offerings globally. Over two years to the end of 2019, a total of up to £50 million ($65 million) is available for innovation projects in order to broaden the range of financial support available to businesses at all stages of innovation.

The award was made to Senzer to complete the experimental development and accelerate scale up of its unique range of respiratory cannabinoid products to patients and consumers worldwide.

“We are very excited to have received this facility which is a real validation of both the opportunity and innovation created by Senzer as we commercialize our unique technology around the world,” said Finance Operations Manager Samantha Simpson. “Contributions from across all team members were made to the extensive application and we are very pleased our efforts have been recognized with success! The Innovate UK facility is a real endorsement of Senzer, it’s team and products and we look forward to putting the funds towards scaling the manufacturing line of our inhaler products.”

SENZER UK-based inhalation technology company specializing in the development and commercialization of therapeutic delivery systems of cannabinoid products.