Little Green Pharma (LGP) has signed an agreement with Ilios Santé, a wholly-owned subsidiary of medical cannabis company, The Bloomwell Group, for the supply of a non-exclusive LGP white label medicinal cannabis product into Germany.
LGP’s two-year agreement with Frankfurt-based Ilios Santé will see the latter purchase minimum annual quantities of a high-THC white-label medicinal cannabis flower product.
The product is being produced at LGP’s Denmark facilities, and LGP has stated that the agreement highlights the continued success of its genetics programme, which has resulted in a bank of cannabis cultivars including over 20 strains in various stages of development.
Read more: Trichome Pharma forms partnership with Little Green Pharma
Little Green Pharma CEO, Fleta Solomon, commented: “This partnership with Ilios Santé is very exciting as it not only strengthens our share of the medicinal cannabis product market in Germany but at the same time strategically partners us with The Bloomwell Group, a European leader in medical cannabis groups operating along the entire value chain.
“We look forward to collaborating with Ilios Santé to help service our rapidly growing number of medicinal cannabis patients in Germany.”
Over the last year, Australian-based LGP has been expanding its reach across Europe, with the purchase of the £11.6m Danish production facility, as well as having increased its medical cannabis offering in the UK and receiving an Italian Government tender for the shipment of medical cannabis into the country.
Read more: Little Green Pharma to increase medical cannabis offering in UK
More recently LGP has entered the Spanish medical cannabis market through the formation of a partnership with Trichome Pharma, which aims to be the first to the Spanish market following its approval from the Spanish Agency of Medicines and Medical Devices (AEMPS) to cultivate medicinal cannabis for research purposes.
The company has stated that the new agreement with Ilios Santé is a welcome addition to its rapidly expanding suite of high-value supply agreements from its Danish Facility into the EU, joining agreements with AMP, Demecan and Four 20 Pharma in Germany, with an aggregate potential value of ~$35m over three years.
LGP is a portfolio company of SEED Innovations, which owns 3.1 per cent of LGP’s issued share capital.
Commenting on the agreement, VP of Investment Analysis at SEED, Alfredo Pascual, said: “Following the release of its strong year end numbers at the beginning of this month, LGP has published further positive progress in Europe with the Agreement with Ilios Santé.
“This aligns with LGP’s key growth strategy and solidifies Little Green Pharma’s growing presence as one of the leading global medicinal cannabis suppliers, developing bespoke high-value white label strains in the European Union with its GMP-licensed Danish facility.
“With Ilios Santé and The Bloomwell Group, LGP gains access to a new strategic partner in Germnay, this time one with operations in the supply chain that include treatment and distribution.”
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