Europe now has its first ever legal and registered cannabis seedbank in Copenhagen, Denmark.
As countries across Europe begin adopting more open attitudes towards cannabis, the continent now has its first ever legal seed bank for the plant.
Franchise Global Health has confirmed that its Danish subsidiary, Rangers Pharmaceutical has successfully established the bank which it says is “arguably the largest in the world” with an audited value of more than C$9m (~€8.64m).
The seedbank houses more than 286 strains, including several world-class genetics and the winners of 19 Cannabis Cups.
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Franchise Global executive chairman and CEO, Clifford Starke, commented: “Our goal is to become Europe’s most trusted source of high-quality EU-GMP cannabis.
“This will be achieved in part by establishing our seedbank as a source for high-quality, Cannabis-Cup winning genetics.
“Essentially this is 30 years worth of IP from land races all around the world with strong genetic heritage including from Thailand, Colombia and other highly sought after sources of origin.”
The company has stated the bank, which is licensed to store, sell and export cannabis seeds globally under legal international trade frameworks and import and export permits, is a key component to its IP strategy.
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Franchise Global is offering a number of strains to the market and has subsequently signed numerous seed purchase orders and strategic agreements with emerging cannabis cultivators and wholesalers. The aim is to further expand global commercialisation opportunities and the orders will be fulfilled in the coming quarters, creating a new source of revenue for the Company and solidifying new global strategic alliances.
However, Franchise Global will retain its most distinguished strains for its own internal flower production for global markets.
The company has strategically position itself in Germany which it says will act as a key gateway to Europe and beyond as its aims to provide international markets with high-quality medical cannabis products. It has a network of over 1,200 pharmacies in Europe as well as extensive distribution relationships across 18 countries.
To bolster its position in the country, the company has also announced it will acquire German pharmaceutical and medical cannabis products distributor.
Starke commented: “This acquisition will strengthen our position in Germany. The Target Company has significant experience with regulatory requirements, pharmaceuticals and medicinal cannabis.
“We expect it to be a solid addition to Franchise Global’s core position in Germany, providing deeper access to further pharmacies, wholesale distribution channels and advancing our business plan as Germany moves closer to full legalisation of recreational cannabis.
“We are focused on leading the pack in the medical cannabis market in Germany. By merging Franchise Global’s experience with the Target Company’s market presence, we are well on our way to be one of the premier German pharmaceutical and medical cannabis companies.”
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