Hellenic Dynamics Plc (LSE:HELD) has entered a five-year agreement with ELGO-DIMITRA, the Institute of Plant Breeding and Genetic Resources located in Greece.
The agreement will see both entities collaborating on projects and research.
ELGO-DIMITRA is a public sector entity functioning under the Greek Ministry of Agriculture, Development and Food, focusing on agricultural research, agricultural product quality and certification.
The key actions proposed in the agreement include the research, cultivation, improvement evaluation and utilisation of specific strains of medical cannabis genetics.
The intention is that following the research new varieties and species of cannabis with improved yield, quality and adaptability will be created.
Hellenic believes that the joint research may help its plans to seek registration for its cannabis products in Greece. This could lead to the company gaining Intellectual Property protection on certain genetics, which could be enforceable across Europe.