Rua Bioscience has received a narcotic licence through partner Nimbus Health for the distribution and marketing of its first product for the German medicinal cannabis market.
The application to extend the Nimbus licence was granted by the German Federal Institute for Drugs and Medical Devices, enabling the firm to distribute and market Rua’s dried flower in Germany by the end of 2022. Rua signed a commercial agreement with Nimbus in July 2020.
The high-THC flower has been developed through an extensive R&D program by Cann Group, Rua’s Australian partner.
Nimbus founder and managing director Linus Weber said 70% of medicinal cannabis dried flower in Germany is prescribed for pain patients, while flower with a THC content greater than 20% makes up 77% of prescriptions.
He added: “At its launch, we believe Rua’s flower will be one of the highest THC dried flower medicines on the market, which will give [it] a significant competitive advantage.
“Through its partnership with Cann Group and with Nimbus as a distribution partner, Rua is well positioned to provide German patients with sustainable access to its product for many years to come.”
Rua CEO Rob Mitchell said: “With the European medicinal cannabis market estimated to be worth NZ$3.8 billion by 2026, Rua understands it must go global to support local, and our export plans, particularly into Germany and wider Europe, are coming to fruition.
“The acquisition of Zalm Therapeutics has enabled us to advance the securing of supply agreements in other emerging, high-growth markets including the Czech Republic, Poland and the UK.
“The global commercial opportunities open to Rua are compelling and underpinned by our ability to export high-value medicinal cannabis at scale and pace as a result of the partnership we now have with Cann Group and the scale afforded by [its] Mildura facility,” he added.
Cann Group recently began harvesting its first commercial medicinal cannabis crop at Mildura. When complete, the 13.5-hectare facility will be capable of producing 70,000 kilograms of dried cannabis flower per year.
Rua said it will announce further expansion plans later in the year as the company finalises distribution agreements across Europe.