Materia Malta Operating Ltd has received a licence for the commercial production of cannabis for medicinal and research purposes.
Materia announced that its wholly-owned subsidiary, Materia Malta, has received the licence from the Malta Medicines Authority, the receipt of which is the final requirement for Materia Malta to begin commercial production and export of medical cannabis.
CEO of Materia, Deepak Anand, commented: “We are delighted to be fully licensed and to begin generating revenues from our Malta facility. I’d like to congratulate our entire team for helping realise our vision of a state-of-the-art processing facility, especially in working through the circumstances presented by the pandemic over the last 18 months.”
[irp posts=”1841″ name=”Kanabo and Materia: innovating the cannabis supply chain in Europe”]
Materia Malta has begun the process of importing its first batch of raw material for commercial production and will now begin fulfilment of its supply commitments starting with the markets of Germany, Malta and the UK.
The first product has already been successfully registered on the narcotics licence of Materia Deutschland GmbH ahead of its import into and across Germany.
Kurt Farruga, CEO of Malta Enterprise, Malta’s economic development agency, commented: “We are delighted to see Materia achieve this milestone. We have been working closely with Materia since the beginning and the calibre of the team exemplifies the type of company we are proud to support here in Malta. We fully expect Materia to be one of the industry’s long-term leaders.”
“As happy as we are to secure our licence, we immediately begin execution on the next phase of our plan,” commented Nick Pateras, Managing Director, Europe, at Materia.
[irp posts=”1919″ name=”Materia enters agreement with Eurox for cannabis extract distribution “]
“We now have a fully built and licensed pathway into the European market for cultivation partners all over the world. This encompasses our in-house processing expertise in Malta on top of our distribution capabilities into and across Germany, Europe’s biggest market, through Materia Deutschland.”
Materia Malta’s EU GMP certified facility has an annual throughput capacity of 6,000kg, representing a potential sale value of €36MM based on a blended average sales price across several key European markets.