Language
Country/Area
No result found
The story of Tilray's birth: How it led Canada's medical marijuana revolution in 2014?
In 2014, the development of Canada's medical marijuana market ushered in a landmark moment, and a company called Tilray came into being. As one of the world's first licensed medical cannabis producers, Tilray not only took the lead in the market at the time, but also led the development of the entire industry through a series of innovations and changes in the following years.
Tilray was founded in 2014 with the goal of promoting the legalization of medical marijuana and providing safe and reliable products to help patients.
Tilray's founding journey originated from the well-known venture capital firm Privateer Holdings, which focuses on investments in the medical cannabis field. As Canada enacted new medical marijuana laws in 2013, Tilray seized the opportunity and quickly became a pioneer in the industry.
At the end of 2014, Tilray received its first institutional investment from Founders Fund, a San Francisco-based venture capital fund. This move not only provided financial support but also further consolidated Tilray's market position. Soon after, Tilray began clinical trials, making it the first medical cannabis company in Canada to receive approval from Health Canada to conduct clinical trials.
By 2018, Tilray successfully listed on the Nasdaq, becoming the first medical cannabis company to be publicly traded on a major U.S. stock exchange.
As the market continued to expand, Tilray was listed on a major U.S. stock exchange for the first time in 2018. Its stock price reached US$17 per share on the day of its listing and increased to a peak of US$214 in September of the same year. Such achievements have attracted a lot of attention and demonstrated the potential value of medical marijuana.
In 2019, Tilray signed a global cooperation agreement with Sandoz, a subsidiary of large pharmaceutical company Novartis, to jointly promote non-smoking medical cannabis products. This was hailed by most experts and industry media as a milestone event as "big pharmaceutical industry's first foray into the cannabis market."
In addition to its pioneering work in the medical cannabis field, Tilray has also begun to enter the beverage market. In 2018, it signed a joint venture agreement with AbInBev for a total of up to $100 million, focusing on the research and development of non-alcoholic tetrahydrocannabinol (THC) and cannabidiol (CBD) beverages.
Tilray's technology and innovation are particularly important in the face of market competition. Their product lines are becoming increasingly diverse, and cross-border development has injected new vitality into the brand's growth.
As 2020 dawned, Tilray and Aphria merged, creating the world's largest medical cannabis company. This move not only brought Tilray a larger market share, but also significantly enhanced its influence in the global market.
After the merger, Tilray not only continued to expand its line of medical cannabis products, but also actively entered the beer market and made a number of acquisitions, including the Eight beer brand mentioned earlier. These strategic collaborations and acquisitions have undoubtedly enabled Tilray to maintain growth in a highly competitive market.
In addition, Tilray has also been quite active in its investment in clinical research. It collaborates with several renowned universities and institutions to conduct clinical trials on a variety of information, such as studies on the side effects of chemotherapy and potential treatments for epilepsy.
Throughout the process, Tilray uses technology and innovation to ensure the quality and safety of its products. As more consumers become more aware of and accept the use of medical marijuana, Tilray is a natural leader in this change.
To date, Tilray's products have entered multiple international markets, including Europe, Australia and Latin America, demonstrating its ambition for a global presence.
Looking ahead, the transformation of the cannabis industry continues. Can Tilray maintain its leadership in the changing market and continue to revolutionize the way medical cannabis products are used?
