Healthcare company, Creso Pharma Limited (ASX: CPH) announced a strategic collaboration agreement with Hempmate Zürich AG for the co-development and commercialisation of Creso’s products in Europe. The Agreement covers many product co-development initiatives, addressing the unmet needs in Europe in the area of (Cannabidiol) CBD hemp products, supporting anxiety, stress, chronic pain and sleep.
Hempmate is a Swiss-based company which concentrates on the sale of hemp-based products for humans and pets, with online distribution channels across Switzerland, Germany, and other key EU countries. Hempmate would provide Creso with access to new commercialisation prospects through multi-level marketing approaches in addition to the presently used pharmaceutical and drug store channels in selected European countries. First new products under the strategic collaboration have already been developed and are planned to be launched in Q2 2019 in selected key European countries (Germany, UK, France, Italy, Spain).
Creso’s Co-founder and CEO Dr Miri Halperin Wernli stated that the company was very much looking forward to this strategic collaboration with Hempmate AG, which would allow both companies to benefit from each other. On the one hand, both companies complement their product portfolios, and on the other hand, Creso will benefit from increased access to new commercialisation channels in several European countries. It was in line with Creso’s and Hempmate’s strategy to establish a strong foothold in Europe.
Hempmates’ Co-founder and CEO Alex Braun commented that it was a great opportunity for both companies to combine product assets and expertise in pursuit of a shared strategy to bring premium quality CBD products to Europe. Hempmates’ was excited to engage in this collaboration, which it saw as a very promising win-win situation.
On 13 February 2019, CPH announced that it had signed a Binding Letter of Intent with Burleigh Heads Cannabis Pty Ltd to geographically expand the distribution of its innovative therapeutic medicinal cannabis products into Australia. Both the companies’ initial focus would be on gaining the necessary regulatory acceptance for cannaQIX 50® to be sold as a therapeutic product in Australia through approved channels. Creso and Burleigh Heads Cannabis agreed to explore the introduction of additional therapeutic/medicinal products from Creso’s pipeline of new products to be produced by Creso at its production facilities globally.
On 31 January 2019, CPH released the operational updates for the quarter ended 31 December 2018. During the quarter, cannaQIX® and anibidiol® sales closed the year with significant growth in distribution and repeated demand. CPH finalised an extended commercial agreement with Virbac bringing anibidiol® to an additional 15 countries in Europe and Latin America. Creso’s Colombian Kunna SAS acquisition was officially closed and Colombian operations commenced with the first steps of genetic registration being accomplished. The US Hemp Farm Act of 2018 signed in law in November 2018 opened the door to Creso’s CBD human and animal health products in the US.
The stock of the company is currently trading at A$0.385 (as at 3:22 pm AEST, 14 February 2019) with a market capitalization of approximately A$51.49 million and circa 133.74 million outstanding shares.
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