Clever Leaves Holdings Begins Sales of Cannabis Extracts in Germany Through Ethypharm Partnership

Rhea-AI Summary

Clever Leaves Holdings has announced the successful importation of high-quality cannabinoid extracts into Germany, which will be distributed through its partner, Ethypharm. This marks a significant milestone as it is one of the first commercial shipments of Colombian-produced high-CBD pharmaceutical products to the German market. The shipment includes two formulations: 100 mg CBD with 3 mg THC and 200 mg CBD with 6 mg THC per gram. This strategic partnership aims to leverage Ethypharm's established distribution network in Germany, facilitating Clever Leaves' broader entry into the European cannabis market.

Positive

• Successful importation of compliant cannabinoid extracts into Germany.
• Partnership with Ethypharm enhances market access and distribution capabilities.
• Products are compliant with EU-GMP and German Pharmacopoeia standards.

Negative

• None.

Products imported and to be commercially available in German pharmacies

BOCA RATON, Fla., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves Holdings” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, today announced the importation of its first German high-quality standards compliant commercial extracts that will soon be available for distribution by its partner in Germany Ethypharm GmbH (“Ethypharm”), a European specialty pharmaceutical company.

We are one of the first to successfully complete a commercial shipment of Colombian-manufactured high-CBD pharmaceutical product to Germany available for patients in pharmacies under prescription.

Following a March 2021 supply agreement signed by the two companies providing Ethypharm access to Clever Leaves Holdings EU GMP certified cannabis extracts, the shipment includes two products: a 100 mg CBD with 3 mg THC per gram formulation and a 200 mg CBD with 6 mg THC per gram formulation. Partnering with an established pharmaceutical company like Ethypharm allows Clever Leaves Holdings to enter the German pharmaceutical market more broadly, which may accelerate the Company’s expansion into the gradually expanding European cannabis market.

“As the largest medical cannabis market in Europe and one of the most demanding from a pharma-quality perspective, Germany has become one of the most important markets to us. This importation illustrates the ability of the Clever Leaves Holding team to manufacture EU-GMP and German Pharmacopoeia compliant products and provide pharmaceutical clients with an asset-light path to market. In addition, this reflects our increasing know-how to comply with complex and sophisticated regulatory and quality frameworks. This is especially relevant in an environment of constantly changing cannabis legislation across different countries,” explained Andrés Fajardo, President of Clever Leaves Holdings. “Partnering with a pharmaceutical leader like Ethypharm enhances our distribution by aligning with an organization which specializes and excels at the marketing and distribution of prescribed pharmaceutical products in Germany”, he added.

“Ethypharm aspires to work closely with doctors and pharmacists to improve patients' lives. The medicinal cannabis extracts we are now launching in Germany address patients' needs, especially those of patients for whom standard therapies are ineffective and who can clearly benefit from medical cannabis treatment," added Jean Monin, Ethypharm's Chief Commercial Operations Officer. "Partnership with Clever Leaves Holdings expands the range of products we offer to German patients and prescribers to treat Central Nervous System (CNS) diseases. We look forward to the next launches planned with Clever Leaves Holdings in the months to come to further enlarge this offering."

Clever Leaves Holdings is one of the few, fully integrated cannabis companies to be granted European Union Good Manufacturing Practices (EU GMP) certification, a requirement to commercialize medical cannabis products in the EU, which reinforces the Company’s ability to serve international markets.

About Clever Leaves Holdings Inc.
Clever Leaves is a multinational cannabis company with an emphasis on ecologically sustainable, large-scale cultivation and pharmaceutical-grade cannabinoid processing as the cornerstones of its global cannabis business. With operations and investments in the United States, Canada, Colombia, Germany and Portugal, Clever Leaves has created an effective distribution network and global footprint, with a foundation built upon capital efficiency and rapid growth. Clever Leaves aims to be one of the industry’s leading global cannabis companies recognized for its principles, people, and performance while fostering a healthier global community. Clever Leaves has received multiple international certifications that have enabled it to increase its export and sales capacity from its Colombian operations, including European Union Good Manufacturing Practices (EU GMP) Certification, a Good Manufacturing Practices (GMP) Certification by Colombia National Food and Drug Surveillance Institute - Invima, and Good Agricultural and Collecting Practices (GACP) Certification. Clever Leaves was granted a license in Portugal from Infarmed – the Portuguese health authority – which allows Clever Leaves to cultivate, import and export dry flower for medicinal and research purposes. In addition, the Portuguese operation was also granted by Control Union Certifications to be compliant with GACP and GAP from EMEA and WHO, as well as with CUMCS – G.A.P.

For more information, visit https://cleverleaves.com/en/home/ and follow Clever Leaves on Twitter and LinkedIn.

Clever Leaves Press Contacts:
McKenna Miller
KCSA Strategic Communications
+1-347-487-6197
mmiller@kcsa.com

Diana Sigüenza
Strategic Communications Director
+57-310-236-8830
diana.siguenza@cleverleaves.com

Clever Leaves Commercial Inquiries:
Andrew Miller        
Vice President Sales - EMEA, North America, and Asia-Pacific
+1-416-817-1336
andrew.miller@cleverleaves.com

Clever Leaves Investor Inquiries:
Cody Slach and Jackie Keshner
Gateway Investor Relations
+1-949-574-3860
CLVR@gatewayir.com

FAQ

What products has Clever Leaves imported to Germany?

Clever Leaves has imported high-quality cannabinoid extracts, including a 100 mg CBD with 3 mg THC and a 200 mg CBD with 6 mg THC per gram formulation.

Who is Clever Leaves' partner for distribution in Germany?

Clever Leaves is partnering with Ethypharm for the distribution of its products in Germany.

What significance does the German market hold for Clever Leaves?

Germany is the largest medical cannabis market in Europe and poses high pharmaceutical quality standards, making it a crucial market for Clever Leaves.

What certifications does Clever Leaves hold for its products?

Clever Leaves is certified with EU Good Manufacturing Practices (EU GMP) and complies with the German Pharmacopoeia.

When was Clever Leaves' supply agreement with Ethypharm signed?

The supply agreement between Clever Leaves and Ethypharm was signed in March 2021.

What is the stock symbol for Clever Leaves Holdings?

Clever Leaves Holdings trades under the stock symbols CLVR and CLVRW.