Cellular Goods, a company backed by David Beckham, which manufacturers cannabis-based skincare and athletic products, has announced plans to sell shares on the London Stock Exchange (LSE).
The firm has sold a stake to DB Ventures, the former footballer’s investment firm.
Cellular Goods makes its products in labs, rather than from cannabis plants – and two of the main active chemicals found in cannabis plants are cannabidiol (CBD) and tetrahydrocannabinol (THC), which have been used in a wide range of skincare and beauty products. The THC has been removed from the plant.
Cellular Goods aims to sell products from September 2021, and should the listing go ahead, it will be the first cannabis firm to achieve it.
Cellular Goods chief executive Alexis Abraham said: “The last few years have seen massive growth and awareness of the importance of wellness and self-care and we believe cannabinoids will prove to be the king of wellness ingredients. The appetite for cannabinoid products is huge and the biosynthetic cannabinoids we will be exclusively using are cleaner, greener, purer, and frankly the future.”