TORONTO, Aug. 14, 2019 – 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, at this time introduced that it has accomplished its first worldwide cargo of dry cannabis flower to its German distribution companion iuvo Therapeutics GmbH (“iuvo”). The cargo was produced from 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 increase 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 Units, following the issuance of the Firm’s EU Good Manufacturing Apply (“GMP”) certificates on April 29, 2019. TerrAscend is one among 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 companion who can also be targeted on affected person well-being.”
– Robyn Rabinovich, VP, Hashish Technique and Partnerships
Ravinovich continued to say that “this primary cargo solidifies our partnership with iuvo and can permit for ongoing entry to top quality medical cannabis merchandise for German sufferers.”
“We’re happy to begin our first cargo to Germany along with our companion TerrAscend.” Stated Daniel Seidi, Director and Co-Founding father of iuvo “In shut collaboration we’ve got efficiently established a completely EU GMP/GDP licenced supply-chain of our prescribed drugs. This locations us in a novel place to reply to the supply-deficiency inside the EU within the curiosity of the sufferers in want.”
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TerrAscend supplies 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 not too long ago introduced the deliberate acquisition of Ilera Healthcare, one among 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 types; 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 concentrate on affected person well-being and high quality assurance, iuvo goals to behave as bridging companion between worldwide licensed producers and pharmacies within the EU.