Avicanna agrees to supply the British cannabis market

Avicanna Inc. announced that it will be entering into an import and distribution agreement with Astral Health Ltd. to supply its cannabis-based medicines to patients in the U.K. under the MHRA "specials" program. Under the agreement, both Avicanna and Astral will work together to achieve key strategic milestones in the U.K. in terms of market activation, market access, and safety.

Avicanna has announced its agreement to be a supplier for the British cannabis market.

Avicanna Inc. (TSX: AVCN), a biopharmaceutical company focused on the development, manufacture, and commercialization of organic and sustainable herbal cannabinoid-based products, just announced that the Company has entered into an import and distribution agreement with Astral Health Ltd., the operating subsidiary of LYPHE Group Ltd, to supply its cannabis-based medicines (“CBMPs”) to patients in the U.K. under the MHRA “specials” program.

In order to find more on this subject, one potentially useful tool about marijuana stocks is the Hemp.im app and its companion cannabis news website.

Avicanna and Astral work together in the British cannabis market

Under the agreement, Avicanna will supply Astral with CBMPs and both Avicanna and Astral will work together to achieve key strategic milestones in the British cannabis market in terms of activation, access, and safety.

The parties will also work together to develop medical education programs focusing on product safety, dosage recommendations, and efficacy. The agreement will enable Avicanna to generate sales from the growing British cannabis market while giving patients better access to the medicine they need.

The CBMPs are expected to be manufactured in Colombia using the research-based formulations developed by Avicanna and cannabis extracts from Santa Marta Golden Hemp S.A.S., a subsidiary of Avicanna.

They will be manufactured at the facilities of Avicanna’s exclusive Colombian manufacturer, Altea Farmaceutica S.A., using Good Manufacturing Practices (GMP).

The commercial union between Avicanna and Astral will bring great benefits to the consumers of the British cannabis market. (Source)

Astral lays the groundwork for the market

Astral is a European focused importer and distributor of medical cannabis and is part of the LYPHE Group.

LYPHE has developed a patient access ecosystem that has laid the groundwork for the British cannabis market and has enabled the company to become a market leader in the country’s fast-growing sector.

Avicanna is a Canadian company focused on the development, manufacture, and marketing of plant-based cannabinoid products in its two main business areas of cultivation and research and development.

Avicanna’s two wholly-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia, are the basis for Avicanna’s cultivation activities.

Research and development continues to be conducted in Canada

Astral will process cannabis for the extraction and purification of cannabinoids, both CBD and THC. (Source)

These two companies are licensed to grow and process cannabis for the production of cannabis extracts and purified cannabinoids, including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development is primarily conducted from Canada at its headquarters at the Johnson & Johnson Innovation Centre, JLABS in Toronto.

Avicanna’s own scientific team develops products and is working with researchers from the Leslie Dan Faculty of Pharmacy at the University of Toronto to develop and improve the company’s products for distribution to the British cannabis market.

(Featured image by Cytonn Photography via Unsplash)

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Henry Reed

Henry Reed is a football fan, ramen eater, fender owner, and a financial journalist writing about the stock market. He also covers tech and innovation, as well as the exciting world of cannabis. An internet geek and a budding entrepreneur, he currently divides his time between Scotland and Chicago.