Agra Ventures Ltd. (CSE:AGRA, OTC:AGFAF) said its wholly-owned subsidiary, Farmako GmbH, has made its first commercial import of cannabis extracts from Poland to Europe’s largest medical cannabis market, Germany.
The extracts have been produced according to the highest standards by Pharmacann Polska Sp. z o.o., an EU GMP (good manufacturing practice)-certified cannabis company and part of PHCANN International, the company said.
Launched under Farmako’s brand, the extracts are produced from selected hybrid cannabis flowers grown indoors, completely without the use of pesticides. Extraction is conducted according to the highest industry standards under strict quality control at the EU GMP facility, it added.
"Against all odds – that’s what we probably have to say with some self-irony. It took us much longer than expected to launch these products, and it was not a straight-forward road at all, but we have all worked hard to clear the way, and our partner PHCANN International has shown impressive persistence and above all a very high level of professionalism,” said Katrin Eckmans, managing director of Farmako in a statement.
“With PHCANN International we want to work on products at highly competitive prices that are patient-focused and help make extracts an essential part of an affordable medical cannabis therapy – not only for self-payers or private patients, but for all patients," added Eckmans.
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The launch of the extracts strengthens Farmako’s position as a supplier with a comprehensive portfolio in the medical cannabis market – from flowers, extracts, and isolate to testkits for pharmacies.
The German medical cannabis market currently features a considerable number of wholesalers and manufacturers offering all kinds of flower products – often the same products under different names – which can be confusing for doctors and patients. Extracts offer a solution with their standardized cannabinoid concentrations and enable a controlled and constant medication for patients, said the company.
Farmako wants to change the medical cannabis extracts market, which is small and impeded by high prices, by providing its products at affordable prices to further establish extracts as acknowledged cannabis medication.
Separately, Agra Ventures said Farmako recently signed a large wholesale contract for its THC testkits with a cannabis producer, offering the testkits together with their own cannabis products. The arrangement further emphasizes Farmako’s position as reliable industry partner, added the company.
“In addition to the deal with PHCANN International, the Farmako team has landed yet another contract to expand the distribution of its proprietary THC testkits. On behalf of AGRA’s management team, I’m happy with these developments and look forward to the continuation of Farmako’s evolution,” said Elise Coppens, chief executive officer and director of Agra Ventures.