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.
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