4C LABS Ltd., a London based Phyto Pharma company focused on the medical cannabis space, has been granted Importation and Distribution licences by the UK Medicines and HealthCare Products Regulatory Authority (MHRA).
The recently obtained **MS and WDA licences allow 4C LABS to import low cost, high quality, cannabis based medicines into the UK from a global network of EU GMP suppliers as well as from the 4C LABS production facility in Guernsey. The licences also enable 4C LABS UK to distribute cannabis based medicines to registered UK & Channel Island Pharmacies.
The new licences are in addition to the first Production licence issued in Guernsey as well as a Specialist Medical Clinic Registration with the CQC.
UK patients require companies to reliably provide low cost, high quality medical cannabis medicines to patients. Supply chain reliability, product quality and pricing all remain issues that require solutions for many patients suffering from chronic pain, cancer, sleep and anxiety issues.
4C LABS sees the UK Medical Cannabis market expanding significantly over the next 5 years with growth rates that mirror previously legalized medical markets. The new licencing will enable 4C LABS to establish a dominant position in a rapidly growing UK Medical Cannabis market.
MS Licence / WDA Licence Definitions:
- Manufacturer’s ‘Specials’ Licence (MS): A licence and Good Manufacturing Distribution Practice (GMDP) certification issued by the MHRA to import and release finished product from any EU GMP-certified facility qualified by 4C LABS (EU & ex EU), and distribute (supply and sell) CBPMs to registered pharmacies in the UK.
- Wholesale Distribution Authorisation (WDA(H)): A licence and Good Distribution Practice (GDP) certification issued by the MHRA to import finished product from EU GMP-certified facilities qualified by 4C LABS within the EU, and distribute (supply and sell) CBPMS to registered pharmacies in the UK.
EIS / Series A Raise:
4C LABS is pleased to announce that the company has been just been approved by the HMRC under the EIS (Enterprise Investment Scheme). The approval provides individual UK investors with significant tax breaks for investment in EIS companies.
The new MS / WDA Licences were the final component required by 4C LABS to begin executing a strategy that has taken 3 years to develop. On the back of this recent success, 4C LABS will commence a Series A raise in September.
4C LABS has now completed the external works on the 4C LABS Guernsey cultivation facility. Once our fall Series A fundraising round is complete 4C LABS will commence work on the interior fit out of the facility. The facility will create diverse employment opportunities for people in Guernsey and broaden the scope of the Guernsey economy in an exciting new industry.
4C LABS will launch the 4C Health Specialist Clinic and 4C LABS distribution in Q1 of 2023, with the aim of providing better quality products at a discount to current market pricing to UK & Channel Islands patients.
UK Medical Cannabis Industry:
All newly regulated Medical Cannabis industries take a few years to really start to grow. Florida is a prime example. From its inception Florida’s Medical Cannabis patient numbers have grown from zero to over 550 000 patients in just 5 years, creating an industry with over $1.5B in sales in 2022. (1) The UK will follow the same path as Canada, Florida, California and other jurisdictions that developed Medical Cannabis regulations.
The new industry provides a prime opportunity for the UK government to create thousands of new jobs and to increase government revenues through taxation.
As of March 2022, US states have reported cumulative tax revenue since legalization of $11.8B. (2) In 2021 US states collected approximately $3.7B in taxes associated with cannabis sales. It is expected that by 2030 the annual total tax collected will rise to $12B. (3)
UK patients also stand to benefit greatly from Medical Cannabis. The UK has the highest per capita usage of Opioids on the planet as well as alarmingly high levels of consumption of both Benzodiazepines and Z Drugs.
Medical Cannabis studies indicate that properly prescribed Medical Cannabis can be effective at relieving symptoms related to pain, sleep and anxiety. Apart from efficacy, Medical Cannabis offers low toxicity combined with a low possibility of addiction.
Governments, Health Authorities and Doctors are starting to understand that Phyto Pharma products like Medical Cannabis can be extremely effective at treating certain conditions and can be of great benefit to their patients.
Greg Dobbin, CEO of 4C LABS, commented:
“We are extremely excited to have received approval for a MS Licence and a WDA licence. This is a major step forward for Guernsey & UK patients who are eligible for medical cannabis and are looking for a cost effective curated product line that meets their budgets and their medical needs.
This licencing approval moves 4C LABS into the position as the only Medical Cannabis company in the Channel Islands and the UK to hold a CQC Clinic registration, Production Licence in Guernsey and WDA / MS Licences. The road to achieving this milestone was complex but the pace of development matches our philosophy.
4C LABS has a very long term view of the Phyto Pharma landscape in the UK and a keen understanding that licencing and regulation drive the new market forward. Our pace of development and low cost approach matches our philosophy of carefully building 4C LABS’ business brick by brick.