ASX-listed Creso Pharma has won a US$625k order from Univo Pharmaceuticals to export its premium cannabis strains to Israel.
The order is the second from Univo this year and gives Creso the opportunity to leverage the medicinal cannabis company’s extensive Israeli distribution network. Univo has licenses for the entire supply chain including cultivation, production, R&D and distribution.
Under the deal, Creso subsidiary Mernova Medicinal will ship four of its premium strains of cured, hand-trimmed, dried medicinal cannabis flower to Univo in Israel.
Delivery is expected to be completed within two weeks of the grant of an export permit by Health Canada.
Creso Pharma’s CEO and co-founder Dr Miri Halperin Wernli said: “Israel is widely recognised as one of the more progressive and active cannabis markets globally. As wholesale demand for our products continues to solidify, we are also preparing for Mernova’s launch into the Canadian retail market which is another exciting near-term opportunity.”
