Cann Group has shipped more than 20,000 bottles of cannabis extract to its German partner, iuvo, in what the company described as a ‘significant milestone’.
The 30ml bottles consist of two oil formulations, a high THC and a balanced THC/CBD product.
The dispatch of the extract will come as some relief to Cann which had been forced to postpone the shipment following regulatory delays.
It forms the majority of an initial 25,000 unit order from iuvo, a GMP-certified importer and distributor of medicinal cannabis products throughout Europe.
The order was part of an agreement which saw Cann Group take a 2% stake in the German firm. The relationship provides Cann with exclusive external rights to manufacture and supply iuvo with medicinal cannabis extracts until the end of 2021, with supply shifting to a preferred agreement until December 2022. The medicine will be iuvo-branded.
Chief executive Peter Crock said the shipment “confirms the growing opportunity for Australian producers”.
Iuvo managing director Daniel Seidl added: “This shipment will be a major contribution to the domestic supply of cannabis extracts and constitutes one of the largest extract imports in the history of medicinal cannabis in Germany.”