Benuvia Operations LLC, a pharmaceutical cannabinoids producer and PharmaCielo Ltd PCLOF PCLO, the Canadian parent of Colombia’s producer and supplier of dried flower and medicinal cannabis extracts, announced on Thursday a strategic partnership. This alliance is set to manufacture CGMP pharmaceutical-grade Active Pharmaceutical Ingredients (“APIs”) for the global market, including Brazil, Australia, Europe and the U.S.
From Seed To Pharma: A New Paradigm In Cannabis Production?
PharmaCielo will handle the cultivation of cannabis and hemp in Colombia, while Benuvia will utilize its Austin, Texas facility for final product production. This partnership marks an industry-first in offering Seed-to-Pharma products globally, ensuring quality and compliance throughout the supply chain.
The collaboration extends to exploring innovative finished dose form services, focusing on CGMP (Current Good Manufacturing Practice) and EU-GMP-compliant pharmaceutical products. This move caters to the increasing global demand for high-quality, reliable medicinal cannabis products.
Management Commentary
“Our collaboration with PharmaCielo represents a significant milestone in our commitment to excellence in pharmaceutical development,” said Darwin Richardson, CEO of Benuvia. “This partnership aligns perfectly with our mission to deliver superior quality products while adhering to the highest manufacturing standards and allows Benuvia to provide our customers with more sourcing options beyond synthetic APIs. With these additional capabilities, Benuvia and PharmaCielo customers can develop drug product formulations for their APIs for both clinical and commercial purposes.”
Marc Lustig, chairman and CEO of PharmaCielo, added, “PharmaCielo has the genetics library, expertise and production capacity to design and deliver tailored, pharma-quality cultivars for the creation of APIs, at scale. We expect this partnership with Benuvia to enable us to access additional customer opportunities while expanding our product shelf with additional cGMP final products.”
This partnership aims to set new standards in the pharmaceutical industry, offering supply chain security and quality assurance in the medicinal cannabis sector. Benuvia and PharmaCielo commit to producing effective products responsibly and sustainably, adhering to cGMP and EU-GMP standards.
PharmaCielo’s Strategic Share Issuance
Additionally, PharmaCielo plans to issue 4,179,670 common shares, at $0.1925 each, to satisfy semi-annual interest payments on company debentures. These shares are subject to a 4-month statutory hold period under Canadian securities laws.
PCLOF Price Action
PCLOF's shares were trading at $0.107 per share at the time of this writing around 10 AM ET Thursday.
Related News
- Top Cannabis Industry Leaders Who Took The Reins In 2023
- Colombia’s President Wants Weed Legalized Despite Senate Opposition: Prohibition Increases ‘Profits Of Drug Trafficking, Violence’
- Cannabis Extracts Producer PharmaCielo Narrows Loss, Cuts Expenses In Q3, CEO Projects Higher Profitability
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