TORONTO, Aug. 14, 2019 /PRNewswire/ – TerrAscend Corp. (CSE: TER;OTCQX: TRSSF) (“TerrAscend” or the “Firm”), the primary and solely cannabis firm licensed for gross sales in Canada, the US, and the EU, right this moment introduced that it has accomplished its first worldwide cargo of dry cannabis flower to its German distribution associate iuvo Therapeutics GmbH (“iuvo”). The cargo was made out of TerrAscend’s EU GMP licensed manufacturing facility in Mississauga, Ontario, Canada. Because the Firm ships further product to Germany in partnership with iuvo, it is going to proceed to develop its footprint in Europe and different worldwide markets. The Firm appears to be like ahead to offering buyers with updates on such growth actions.
TerrAscend and iuvo, respectively had been granted an Export Allow by Well being Canada, below the Hashish Act, and an Import Authorization from Germany’s Federal Institute for Medication and Medical Gadgets, following the issuance of the Firm’s EU Good Manufacturing Apply (“GMP”) certificates on April 29, 2019. TerrAscend is one in all solely six firms with a GMP licensed cannabis facility.
It’s anticipated that the German cannabis market will generate greater than $5 billion in income by 2025. With greater than 30,000 present medical cannabis sufferers in Germany and upwards of seven,200 kg in annual medical affected person consumption, the TerrAscend-iuvo partnership presents an thrilling alternative to meet the rising wants of medical cannabis sufferers in Germany.
“We stay up for bringing TerrAscend’s high quality merchandise to the German market and dealing with a associate who can be targeted on affected person well-being,” stated Robyn Rabinovich, VP, Hashish Technique and Partnerships, “This primary cargo solidifies our partnership with iuvo and can enable for ongoing entry to prime quality medical cannabis merchandise for German sufferers.”
We’re happy to start our first cargo to Germany along with our associate TerrAscend. In shut collaboration we’ve efficiently established a totally EU GMP/GDP licenced supply-chain of our prescribed drugs. This locations us in a singular place to answer the supply-deficiency throughout the EU within the curiosity of the sufferers in want.
Daniel Seidi, Director and Co-Founding father of iuvo
TerrAscend offers high quality merchandise, manufacturers, and providers to the worldwide cannabinoid market. As the primary North American Operator (NAO), with scale operations in each Canada and the US, the Firm participates within the medical and authorized grownup use market throughout Canada and in a number of US states the place cannabis has been legalized for therapeutic or grownup use. Moreover, TerrAscend will quickly be the primary and solely cannabis firm with gross sales within the US, Canada, and Europe because it has obtained EU GMP certification for its manufacturing facility in Mississauga, Ontario. TerrAscend just lately introduced the deliberate acquisition of Ilera Healthcare, one in all 5 vertically-integrated cannabis cultivator, processor, and dispensary operators in Pennsylvania. TerrAscend operates a variety of synergistic companies, together with The Apothecarium, an award-winning cannabis dispensary with a number of retail areas in California and Nevada; Come up Bioscience Inc., a producer and distributor of hemp-derived merchandise; Ascendant Laboratories Inc., a biotechnology and licensing firm dedicated to the continual enchancment of cannabinoid expressing vegetation; Solace RX Inc., a proposed Drug Preparation Premises (DPP) targeted on the event of novel formulations and supply kinds; and Valhalla Confections, a producer of premium cannabis-infused edibles.
iuvo Therapeutics GmbH is a pharmaceutical wholesaler with a cannabis particular import and narcotics distribution license in adherence with EU GMP & GDP requirements. With a give attention to affected person well-being and high quality assurance, iuvo goals to behave as bridging associate between worldwide licensed producers and pharmacies within the EU.
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