It has been announced that one of Europe’s fastest-growing cannabis firms partnered up to develop and distribute new medical cannabis products designed to target specific conditions.
According to a statement sent to Canex, Kanabo, the first medical cannabis company to list on the London Stock Exchange (LSE), has signed a partnership agreement with Medocann Pharma Ltd.
The agreement will give Kanabo exclusive distribution rights to the co-developed products into the growing German and UK cannabis markets.
The partnership agreement between Kanabo and Medocann will focus on the co-development of new and novel products as well as on the co-development of new and unique cannabis strains.
These new strains and products will be designed to target specific medical indications through the combination of Kanabo’s preclinical data on the effect of cannabis on different illnesses and Medocann’s genetics bank, strain development expertise and innovative cultivation capabilities.
Asaf Sella, CEO Medocann, said: “The genetics and the technology used to cultivate medical cannabis make a huge difference in the safety, the quality and the consistency of the medicine patients receive.
“We are delighted to partner with Kanabo, together we will develop new strains to treat specific indications and provide premium medical cannabis products, all originating in Medocann’s indoor, hi-tech facility.”
Avihu Tamir, CEO Kanabo, added: “Medocann’s hydroponic, precisely-grown cannabis is considered to be the best in Israel and often sells out within days.
“It is the only product on the market that is cultivated without the use of pesticides or insecticides. Kanabo aims to bring these unique strains that target specific medical conditions to patients in the UK and Germany through our Materia Malta production facility.”
According to the announcement, 1,000kg of Medocann’s precisely grown cannabis flowers and extracts will be integrated into co-branded products that will be available for sale within the first three years of the agreement, which the board estimates will generate sales of up to €9m in aggregate.