Israeli medical cannabis company Together Pharma (TASE: TGDR) has reported that it has switched to commercial cultivation at its farm in Ashkelon, after receiving IMC-GAP approval for the facility. The facility in Ashkelon covers 5 acres and the company holds agreements to make products of IMC-GMP standard through a third party.
After harvesting its first commercial crop within several months, the company will send its medical cannabis produce to its IMC-GMP standard factory, and will be able to supply products to pharmacies and medical cannabis patients in Israel, who in recent months have been suffering from a severe shortage of products. Some of the crops from the farm will be used to make cannabis oil products under the Cannabliss brand, which is part of the Together Pharma Group.
Together Pharma CEO Nissim Bracha said, "We are switching to commercial operations in Israel too. Our farm in the Ashkelon region, which is operating under the new regulation, and has now received the required standard, is planned to produce significant amounts of medical cannabis produce and allows us to sell, after the first round of crops, medical cannabis products to pharmacies in Israel. We believe that the anticipated sale from the farm will position the company in the forefront of active cannabis companies."
The company plans to start marketing products in Israel through pharmacies according to new regulations and with export approval expected in the coming months, Together will be ready with products to market to Europe.
Together also recently announced that it had completed the acquisition of Cannabliss, an Israeli company that has been operating for 10 years in the medical cannabis sector, in a deal worth about NIS 14 million. Cannabliss has a collaboration agreement with Hadassah Medical Center in Ein Kerem, Jerusalem, in which the company has an instruction and treatment unit that has provided broad medical cannabis solutions for thousands of patients since it was set up. Cannabliss' management and staff have major experience and knowhow in developing products, and managing a factory for the manufacture of medical cannabis products and treating patients, and they will continue to manage the company. They will also be responsible for managing and operating the GMP standard factory that Together is setting up under the new regulation.
Together is also active in the CBD-based cosmetics field together with Premier Dead Sea. The companies have an agreement with a Dutch company, which has a factory in the Netherlands with all the required regulatory approvals for manufacturing cosmetics products containing CBD ingredients from the cannabis plant. The companies plan to manufacture thousands of units of three approved products, which will be distributed to sales points in countries where the products have been legalized.
Published by Globes, Israel business news - en.globes.co.il - on October 17, 2019
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