Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) is set to send its Colombia-grown and extracted cannabis concentrates to Portugal for the next five years.
The Canadian company with primary operations in Colombia announced the first shipment on Thursday where Clever Leaves will supply EU-GMP-certified CBD extracts from Colombia to the biopharmaceutical SOMAÍ Pharmaceuticals.
Clever Leaves has already completed the initial shipments under the agreement and will continue to supply pharmaceutical-grade APIs and CBD extracts to SOMAÍ for further processing into finished products for patients throughout Europe.
SOMAÍ aims to become a leading player in Europe’s medical cannabis market by creating new dosage forms that go beyond conventional drug delivery systems and ensure consistent quantities of active ingredients are delivered to patients.
These recent shipments mark the first time that Clever Leaves has sent products to Portugal, and it adds to the company’s track record of exporting to over 15 countries from its EU-GMP certified facility in Colombia. The company has also received its fifth GMP certification from the European Union, Colombia and Brazil.
“By combining our expertise in producing and developing high-quality pharmaceutical-grade products with SOMAÍ’s innovative approach to drug delivery systems, we aim to streamline patient access to pharmaceutical-grade cannabis products throughout Europe,” Clever Leaves CEO Andres Fajardo said.
“This collaboration signifies Clever Leaves’ commitment to shaping the future of the global medical cannabis industry and grows our position in Europe’s rapidly expanding medical cannabis market.”
SOMAÍ Pharmaceuticals is a major producer of cannabis products that focuses on creating high-quality medical-grade pharmacological applications. The company invests in all aspects of the cannabis product development process, including extraction, research, development, formulation, and distribution of EU GMP-pharmaceutical market-authorized cannabinoid products.
“SOMAÍ Pharmaceuticals embarked on an extensive quest to seek a formidable partner to launch one of the most comprehensive cannabis product lines for the flourishing European markets,” SOMAI CEO Michael Sessano said.
We are proud to be working with the highly professional Clever Leaves team and are most impressed with the high-quality EU-GMP CBD extract,” he added.