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Analysis
AddedMay 15, 2026
UpdatedMay 31, 2026
Avextra

Avextra

Follow-On

Vertically integrated medical cannabis company developing regulator-approved prescription medicines in Europe.

HQ
Berlin, Berlin, DE
Founded
2019
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Website
Revenue Estimate
$20M

Contents

  1. 01Executive Summary
  2. 02Competitive Strengths
  1. 01Executive Summary
  2. 02Competitive Strengths

Memo

On November 9, 2022, Avextra announced a strategic partnership with Activoris Medizintechnik and Actarmo Medical to develop an EU-compliant cannabis extract inhaler, with an initial target of achieving Medical Device Regulations approval before 2024.

Under the collaboration, Avextra is responsible for crafting the active extracts, Activoris manages the device certification process, and Actarmo handles combination-product testing. Co-CEO Dr. Bernhard Babel described the initiative as a significant milestone in Avextra's broader inhalation development strategy.

Avextra invests approximately one-third of its total budget in research and development, with a clinical program spanning palliative care, sleep disorders, and neurodegenerative diseases across multiple European countries.

The company's key studies include CORAL (palliative care, published June 2025), OCEAN-R (retrospective registry, presented March 2025), IMPACT (sleep quality, presented March 2025), SATURN (capsule formulation, December 2025), and NEUROBIS (Phase II for neurodegenerative diseases in Italy, enrolling 180 patients over 36 months under Professor Letizia Mazzini).

Avextra raised more than EUR 20 million over an 18-month period ending in February 2024 through equity instruments and convertible notes exchanged for ordinary equity, achieving a valuation of approximately EUR 100 million according to Benzinga and Tracxn.

Named institutional backers include Fastforward Innovations, which participated in a Series A round in July 2021, and Iberis Capital, which provided early Series B support in 2022. Total funding across all rounds is approximately USD 48.1 million per Tracxn and The Company Check.

Competitive Advantages

Germany is the largest medical cannabis market in Europe. Avextra competes with multinational cannabis companies including Tilray Deutschland GmbH, Canopy Growth Germany GmbH, Curaleaf International (via Four 20 Pharma), Aurora Deutschland GmbH, as well as German specialists such as DEMECAN, Cannamedical Pharma GmbH, Cansativa GmbH, SynBiotic SE, Cantourage GmbH, and STADApharm GmbH.

Avextra differentiates through vertical integration (cultivation to EU-GMP manufacturing) and pharmaceutical-grade, regulator-approved medicines rather than commodity flower.