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Cansativa Group and Akanda Corp. to Bring New Medical Cannabis Flowers to Germany
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Akanda Corp. (NASDAQ: AKAN) and Cansativa GmbH have announced a new partnership to deliver two novel cannabis cultivars to German pharmacies. This collaboration will enable Cansativa to supply the German market with dried flowers from Akanda's EU-GMP certified facility in Portugal. Akanda is expected to deliver a minimum of 1,000 kilograms over the first 12 months of the agreement. This deal marks a significant milestone for Akanda in the European medical cannabis industry, enhancing product diversity and supply security for patients.
Positive
Partnership with Cansativa enables Akanda to supply the German market with cannabis products.
Delivery of at least 1,000 kilograms of cannabis expected in the first year of the agreement.
This supply agreement is one of the largest in the European medical cannabis sector.
Negative
None.
FRANKFURT AM MAIN & LONDON--(BUSINESS WIRE)--
Akanda Corp. ("Akanda") (NASDAQ: AKAN) and Cansativa GmbH (“Cansativa Group”) today jointly announced a new cooperation that will soon allow German pharmacies to provide patients with two novel cannabis cultivars. This collaboration allows the Cansativa platform to supply the German market with dried flowers from Akanda’s EU-GMP certified indoor grow facility in Sintra, Portugal. Akanda is expected to deliver at least 1,000 kilograms to Cansativa over the first 12-month term of the agreement.
“We are very glad about this agreement that allows us to introduce two novel medical cannabis flowers to the German market. This enables patient access to an additional supplier with a new and innovative range of medical products. This exciting cooperation marks another step in improving the product diversity and security of supply on the German market. We look forward to a long-term relationship with Akanda, with whom we share an important part of our mission: We want to enable physicians, pharmacies, and patients by giving them access to an extensive medical product portfolio and help improve the quality of life with the help of medical cannabis,” says Benedikt Sons, co-founder and CEO of the Cansativa Group.
“Our prized purpose-built indoor grow facility is the only one of its kind in Portugal that can produce EU-GMP medical cannabis equivalent to the adult-use grades available in North America. It has both the quality and scalability to meet the growing demand for medical cannabis in fast-growing markets across the EMEA region, such as Germany. We are equally excited to be partnering with the Cansativa Group to bring some of our best strains to Germany through their platform. This supply agreement represents one of the largest agreements in the nascent European medical cannabis industry and is certainly Akanda’s most substantial commercial development to date, enabling new patient experience,” affirms Tej Virk, CEO of Akanda.
All pharmacies in Germany will be able to purchase these products through the Cansativa platform.
About Cansativa Group
Cansativa Group is the German leader in the medical cannabis market and sees itself as the driving force of the cannabis industry in Germany. Since the award of the Federal Institute for Drugs and Medical Devices (BfArM) in August 2020, they are the only company with approval for the distribution of medical cannabis from German cultivation. In the upcoming cannabis legalization, the Cansativa Group sees itself as a pioneer of the democratization of the cannabis market. They import, store, license, distribute, supply, brand and educate.
Akanda is an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high quality and affordable products. Akanda’s portfolio includes Holigen, a Portugal-based cultivator, manufacturer and distributor with a prized EU GMP certified indoor grow facility; Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa; and CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK. The Company’s seed-to-patient supply chain also includes partnerships with Cellen Life Sciences’ Leva Clinic, one of the first fully digital pain clinics in the UK.
