Little Green Pharma Ltd (ASX: LGP, “LGP” or the “Company”) is pleased congratulate its Spanish medicinal cannabis partner Trichome Pharma on securing a second strategic partnership with global human and animal health company Labiana Pharmaceuticals.
Earlier this year the Company identified a strong opportunity to partner with Trichome which is developing operations in Spain, specialising in the cultivation, development, and commercialisation of medicinal-grade cannabis and hemp-derived consumer healthcare products. The partnership has seen LGP take a strategic placement in Trichome which currently accounts for an approximate 8.6% holding.
Following this partnership, Trichome has also recently secured a second partnership with Labiana Pharmaceuticals, which brings substantial expertise in third-party EU-GMP manufacturing of specialised medicines, including psychotropics, as well as strengths in pharmaceutical distribution.
The combined partnerships are anticipated to rapidly accelerate Trichome’s expansion Into the Spanish market, which Is reaching a major inflection point. A Spanish Government subcommittee recently presented and agreed upon a long-awaited report which contemplates the prescription of medicinal cannabis for a limited number of illnesses.
The Spanish market represents an emerging opportunity, with a large population estimated at just under 50 million people and an increasing interest in medicinal cannabis products.
Commenting on the partnership, Little Green Pharma Chief Executive Officer Fleta Solomon said:
“Trichome’s partnership with Labiana Pharmaceuticals is fantastic news, bringing together our expertise operating a vertically integrated business producing high-quality medicinal cannabis medicines with Labiana’s GMP manufacturing and distribution experience.
“It is truly exciting to think what could be accomplished in Spain at a really important time for the country, as cannabis-based medicines continue to be placed on the agenda as a way to significantly improve the lives of patients”.Fleta Solomon – CEO
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