Cannbit Tikun-Olam Israel (TASE: TKUN) says it has exported the largest shipment of cannabis extracts in Israel’s history.
Cannbit announced the news on Tuesday and it is also the first delivery of medical extracts it has ever completed. The package sent to Germany consisted of thousands of vials in 10-gram packages containing an assortment of THC and CBD concentrations.
The company signed an agreement for the shipment with the German pharmaceutical company, Fette Pharma which will be marketing and distributing Cannbit’s products to pharmacies throughout Germany, Switzerland and Austria.
The extract products are derived from cultivars grown by Cannbit at its cultivation farm in the south Dead Sea, which has received EU-GMP certification. That prestigious designation is a requirement for marketing, producing and distributing medical cannabis throughout Europe.
“A historic day for Israel’s cannabis industry, especially for Tikun Olam-Cannbit! The large commercial shipment that arrived in Germany is a significant and exciting milestone for the company,” said Avinoam Sapir, CEO of Cannbit.
“Thanks to a significant investment of time and resources over the past two years, we are deploying our global strategy and opening an attractive channel for local cannabis companies.”
Cannbit-Tikun Olam is passionate about the medical cannabis industry and says it is Israel’s first and leading cannabis supplier. The organization has more than 15 years of clinical research experience and it claims that data from its clinical studies has been published in some of the most prominent scientific publications in the world.