Sanity's CanG bet: built compliant German cannabis, sold to Organigram for €107M upfront

Berlin cannabis company: EU-GMP medical cannabis production and European distribution, plus wellness products and adult-use pilot programs, built for pharmacy channels.

Germany's cannabis law would turn medical cannabis from a gray zone into a real pharmacy market — and the compliant, EU-GMP local champion would win it.

$73M raised by January 2022: a $44.2M Series A led by Redalpine with Navy Capital and SOJE Capital; angels included will.i.am, Scooter Braun and Alyssa Milano; BAT was an existing backer and funded the eventual buyer

Finn Age Hänsel — who had earlier co-founded Australian fashion retailer The Iconic — co-founded Sanity in Berlin in 2018 to build cannabis as a regulated medicine: an EU-GMP-compliant research and production facility near Frankfurt, pharmacy-grade distribution, and a medical device for tracking cannabis therapy in chronic pain and mental health treatment.

The $44.2M Series A in January 2022 — Europe's largest cannabis round at the time — funded the medical division ahead of the political opening. It arrived on April 1, 2024: Germany's CanG law let adults possess and grow cannabis while widening medical access through prescriptions. Legal imports rose sixfold, from 8,143 kg in Q1 2024 to 50,539 kg in Q1 2025, and the German medical market reached €2B+ and roughly 800,000 patients in 2025. Sanity became one of Germany's leading players and expanded into Switzerland, Poland, the UK and Czechia. On February 18, 2026 it signed to sell to Canada's Organigram Global; the deal closed April 14, 2026 at €107.3M upfront — €78.0M cash plus €29.3M in shares — with earnouts of up to €113.8M tied to performance through April 2027, financed in part by a €40.3M private placement from BAT.

Acquired by Organigram Global (NASDAQ: OGI); closing announced April 14, 2026. By July 2026 co-founder Finn Age Hänsel was President, Rest of World & Chief Strategy Officer of Organigram, and the original performance earnout had been converted to a fixed one as integration accelerated.

Building GMP-certified production and pharmacy distribution before legalization meant Sanity could supply the moment demand arrived, while new entrants were still licensing.

Treating cannabis as digital health — tracked therapy, medical devices, chronic-pain indications — kept it fundable by European VCs during the years when nothing was legal.

Germany's CanG widened the medical channel rather than creating retail sales, so distribution through pharmacies became the whole game, favoring Sanity's positioning.

Canadians needed a European regulatory beachhead, and Sanity was the rare pure-play with multi-country operations — making it the logical acquisition for Organigram's international push.

Regulatory openings favor the boring: when a gray market turns legal, the winner is whoever was already certified, distributed and pharmacy-ready — not whoever was loudest before the law.

As of July 2026, Sanity operates inside Organigram Global, which has accelerated integration under a unified global structure: Hänsel is President, Rest of World & Chief Strategy Officer, Adrian Frenzel is Global COO, and the performance-based earnout has been replaced with a fixed one. Organigram cites Sanity's German platform — a market worth €2B+ in 2025, forecast above €4B by 2028 — as the core of its European expansion.