FastForward Innovations Ltd’s (LON:FFWD) has noted that its portfolio firm, EMMAC Life Sciences, has become the first European cannabis company licensed to manufacture medical cannabis extracts as active pharmaceutical ingredients containing delta 9-tetrahydrocannabinol (THC) for commercial purposes at its Medalchemy manufacturing site in Spain.
EMMAC said Medalchemy will immediately begin production and distribution of a number of medical cannabis products across multiple jurisdictions in Europe and beyond as well as supplying white-label medical cannabis products.
"This is a landmark announcement for EMMAC, and is the realisation of our vision to create a vertically integrated multi-national operation”, EMMAC chief executive Antonio Costanzo said in a statement.
“This milestone will position EMMAC as a trusted leader in the medical cannabis market in Europe and is testament to the continued innovation and excellence at Medalchemy, as we focus now on scaling production of our medical cannabis export to meet growing patient demand", he added.
FastForward holds a 2.3% interest in EMMAC.