MediCrops AG Receives Operational Approval from Swissmedic, Plans IPO

MediCrops AG, a company specializing in prescription THC-based medications, has obtained an operational license from Swissmedic, Switzerland's drug regulatory and supervisory authority. This approval permits MediCrops to officially function as a pharmaceutical company in key areas including import, wholesale, export, and international trade of medicinal products.

The company has initiated its final pre-IPO financing round, aiming to raise CHF 24.7 million. This capital increase precedes a planned stock market listing, which is expected to occur within the next 18 to 24 months, marking a strategic move to accelerate growth.

"The operational license from Swissmedic is a turning point for MediCrops," stated Evangelia Vaoutsi, CEO of MediCrops. She added that the new funding will support the company's ambitions for international expansion and advancements in the digital transformation of patient care.

MediCrops intends to use the new capital to significantly expand its market presence, particularly by scaling its German subsidiary Swiss Alpinopharma GmbH and its telemedicine clinic Enmedify. In its home market of Switzerland, the company plans to launch a broad portfolio of medical cannabis products and acquire a pharmacy to extend its value chain.

The funds will also be used to meet regulatory standards for the planned 2025 stock market listing and to finance planned M&A transactions in Switzerland and Germany. The company aims to increase its annual revenue into the double-digit millions by the end of 2025.