Medcann, a Canadian-based company, has received authorization from the Spanish Agency of Medicines and Health Products (Aemps) to grow cannabis plants for research purposes in the country, according to Carlos Adolfo Guzmán, CEO of the company.
In the first stage, for which this authorization has been obtained, fourteen Medcann genetics will be selected for registration at the Community Plant Variety Office (Ocvv), protecting plant breeders’ rights.
In a second phase, with the involvement of medical research institutes and health professionals from all over Spain, the company hopes to extend the project to the pharmaceutical sector and medical research.
You can find more information about the medical cannabis industry and other important news in the cannabis sector in the Hemp.im app. This app collects the latest marijuana news among cannabis sectors that investors operate in.
Medcann will strengthen its project with the Basque Institute for Agricultural Research and Development
This step is a boost for the collaborative research, development, and innovation (R&D&I) project that the company is developing in the Basque Country together with the Basque Institute for Agricultural Research and Development (Neiker), a technology center specializing in the creation of innovative solutions for different sectors in the region.
This public-private collaboration aims to act as a link between the agricultural and pharmaceutical sectors. The ultimate goal of the program is to promote development and innovation projects applied to cannabis genetics.
“Recognition as a supplier of cannabis genetics of licit and traceable origin for medical and scientific purposes gives the project more visibility, placing it in a privileged position within the market,” explained Carlos Adolfo Guzmán, CEO of Medcann.
In 2022, the Canadian company invested $6 million in Spain
The Canadian-based business group has been seeking for months to become a major player in Spain by supplying cannabis genetics. In fact, so far this year, Medcann has invested six million dollars in the country.
The company has subsidiaries in Spain, Peru, and Colombia, the location where the company has located its production and operations center in the Meta region. The company was born in 2016 and, in total, has invested more than twenty million dollars since its foundation.
Between 250,000 and 300,000 patients in Spain turn to the black market for cannabis products, according to figures provided by the Spanish Medical Cannabis Observatory. For this reason, guaranteeing legal and health security “must be a priority for the government, industry players, and the health sector,” Guzmán said.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Services Gain Ground in the Post-Covid Recovery
In the post-Covid recovery, the services sector is leading the charge, with recent data showing +4.8% growth above pre-pandemic levels....
Private Sector Firms May Qualify for Attractive Tax Incentives With Certain Types of Redevelopment Projects
Private Sector Firms May Qualify for Attractive Tax Incentives With Certain Types of Redevelopment Projects. Generally, these projects are so-called...
A Great Deflation Will Divide Europe and the U.S., J.P. Morgan
J.P. Morgan analysts have noted an impending deflation. However, they say the impact will be uneven, leaving some countries better...
The Iberian Gas Pipeline Seeking to Disconnect the EU From Russian Energy
As the EU seeks to reduce its dependence on Russian energy, Spain has come forward with a gas pipeline proposal...
The Impact of Home-Grown Cannabis On the Brazilian Cannabis Industry
In Brazil, producing small quantities of home-grown cannabis is authorized. But how big is its impacts on the commercial cannabis...
Cannabis2 weeks ago
Why Tilray Shares Rose This Friday Morning
Featured2 weeks ago
Depression, or No Depression; That Is the Question
Biotech1 week ago
Experience of Covid-19 Rapid Tests Opening the Door to a Medicine of the Future?
Cannabis1 week ago
New Research Shows CBD Relieves Severe Anxiety in Young People