Puro has signed a £7 million (NZ$15.8m) supply agreement with UK-based IPS Pharma, in what it claimed was the world’s largest export deal for organic medical cannabis.
The agreement will see live-dried, organically grown flower exported to the UK and Europe, where demand for premium medicinal products continues to grow.
Puro CEO Sank Macfarlane said he was excited to bring Puro’s flower to Europe.
“This marks an exciting step forward for Puro but also for patients in the UK and Europe, where demand for high-quality medical cannabis is booming,” he said.
IPS Pharma director Ian McFarlane, meanwhile, said Puro’s product would offer patients some of the best medical cannabis in the world.
Recent regulatory reforms in New Zealand, which have lowered the cost of exporting medicinal cannabis, helped pave the way for the deal.
“These regulation changes have provided a pivotal opportunity for Puro to establish itself as a leading provider of premium medicinal products in the UK and Europe,” Puro’s CEO said.
The deal follows significant investment in the company, including NZ$13m (A$12m) in government funding to support its research programs, with the firm now one of the few certified organic medical cannabis producers globally.