- Avextra successfully exported EU-GMP standardised cannabis extracts manufactured in its German facility to its distribution partner in the United Kingdom
- Export is a significant milestone that validates the regulatory pathway for medical cannabis products from Germany
- Avextra will continue to work with its partners to serve patients across the United Kingdom and across Continental Europe
- Avextra retains an ownership stake in Integro Medical Clinics in London, as a strategic asset in the UK market
BENSHEIM, Germany, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Avextra AG (“Avextra” or the “Company”), a leading vertically-integrated manufacturer of Cannabis-based medicines located in Germany, is pleased to announce the successful export of its standardised cannabis extracts to the United Kingdom (“UK”). The UK is the world’s largest exporter of Cannabis-based medicines and therefore one of the strictest jurisdictions in the world for their imports.
This milestone marks a significant step forward for the Company as it validates the regulatory pathway for the UK market and provides patients access to Avextra’s EU-GMP certified Cannabis-based medicines.
The Company’s standardised cannabis extracts, which are manufactured using the highest quality starting material and the latest extraction techniques, have been met with positive feedback from patients and healthcare professionals alike. Avextra’s commitment to producing safe and effective products has been recognised by regulatory bodies, allowing the company to enter new markets and reach more patients in need.
Avextra has an ownership stake in Integro Medical Clinics, a medical cannabis clinic located in London, UK. This clinic provides Avextra the opportunity to better understand unmet patient need and gather valuable insights to develop safe and effective Cannabis-based medicines of the highest quality to address it. This unique combination of distribution and market intelligence has put Avextra in a strong position to continue to grow and succeed in the UK and other European medical cannabis markets.
"We are thrilled to be able to expand our reach and bring our products to patients in the UK," said Bernhard Babel, Co-CEO of Avextra. "Regulations are developing in a positive direction across Europe as governments and the medical community continue to recognise the benefits of medical cannabis and its potential to improve patients' quality of life". In addition, "Having a stake in Integro Medical Clinics allows us to aggregate data and glean valuable insights into the needs of patients in the UK, as we continue to innovate and improve our products to meet those needs.”
This expansion into the UK market is a testament to Avextra's commitment to innovation and quality, and the company looks forward to continued growth and to bringing its products to more patients across Europe in the future.
About Avextra AG
Avextra is one of Europe’s leading vertically integrated suppliers of high-quality Cannabis-based medicines. Founded in 2019 and based out of Bensheim, Germany, the company focuses on the production of precisely formulated Cannabis-based medicines. Avextra controls the entire value chain – from the cultivation of the plants in Portugal to the EU-GMP certified production in Germany. Avextra operates across continental Europe through an expansive distribution network and assets strategically developed in key markets.
Learn more at avextra.com and stay up to date at LinkedIn: company/Avextra-ag/.
Avextra Investor Relations:
For further information, please contact our Investor Relations Team:
Email: investors@avextra.com
Avextra Media Enquiries:
For media enquiries or to set up an interview please contact:
Email: press@avextra.com
Phone: +49 30 408174037
Forward-Looking Statement:
This news release contains certain "forward-looking information" within the meaning of applicable securities law. A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking information in this release including, but not limited to: the risk that synergies and expected collaboration from the event may not be fully realized or may take longer to realize than expected; consumer demand for cannabis products in the U.K. and globally; Avextra's subsidiaries and partners are able to obtain and maintain the necessary regulatory authorizations to conduct business; and general economic, financial market, legislative, regulatory, competitive and political conditions in which Avextra and its subsidiaries and partners operate will remain the same.
The forward-looking information in this release is based on information currently available and what management believes are reasonable assumptions. The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release.
