- Expands Materia's distribution capabilities in Europe's largest cannabis market and strengthens ability to serve suppliers seeking market access
- Materia will strategically build out its German product portfolio to include additional flower products, as well as various extract-based products
LONDON, Jan 28, 2021 /CNW/ — Materia, a medical cannabis and wellness company focused on the European market, is pleased to announce that its wholly-owned subsidiary Materia Deutschland GmbH (“Materia Deutschland” or the “Company”), has received its European Union Good Manufacturing Practices (“EU-GMP”) certificate as well as its manufacturing and import (“MIA”) licence. Following successful inspections by the local authorities, the Company was adjudged to comply with the high standard of production guidelines required to import, conduct manufacturing activities and batch release medical cannabis products.
The licensure will bolster the Company’s existing supply chain by enabling it to import medical cannabis directly into Germany from anywhere in the world, as well as extend to packaging and labelling products as necessary. The Company will continue to supply products to its pharmacy network and strategic wholesale partners using its existing and proven distribution infrastructure.
“We are very pleased to now be EU-GMP certified and hold an MIA licence in Germany. This is of major importance for us as it not only adds product releasing and processing to our distribution abilities in this critical market, but it also diversifies our supply chain and accelerates the development of our target product portfolio.”Deepak Anand, CEO of Materia
“This achievement signifies greater value we can offer partners who wish to access Europe, supplementing our facility in Malta which will be licensed to manufacture EU-GMP medical cannabis from input materials. In effect we can now control the switch to the European market at two different access points along the value chain. We look forward to working with our trusted partners in leveraging these avenues.”Nick Pateras, Managing Director, Europe of Materia
Materia Deutschland is now fully licensed in Germany, with this milestone marking the Company’s graduation from a cannabis wholesaler to a pharmaceutical manufacturer with distribution capabilities. Materia Deutschland will maintain its registered office in Hamburg, the site of its primary distribution licence, as well as its new office in the city of Oldenburg.
Materia’s vision is to be the enabler of global cannabis access. Materia is developing a robust pharmaceutical manufacturing and distribution ecosystem to grow the legal cannabinoid market across Europe. With its research-driven team and regulatory expertise, Materia focuses on the high-margin downstream activities of processing, formulation and distribution into markets wherever there is a patient in need of cannabis medicine or CBD consumers seeking innovative new products.
For further information, please contact:
Deepak Anand, CEO
All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and legal uncertainties; access to financing; the delay or failure to receive regulatory approvals; and other factors. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Materia does assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.