Business
New Partnership Agreement
New Partnership Agreement.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2775O\n Kanabo Group PLC\n 07 October 2021\n \n \n \n \n Kanabo Group Plc\n \n \n \n \n \n (\"Kanabo\" or \"the Company\")\n \n \n \n \n \n New Partnership Agreement\n \n \n \n \n \n New development and distribution partnership with the Medocann Group\n \n \n \n \n \n Kanabo Group Plc (LSE:KNB), a medical cannabis R&D Company that focuses on the distribution of cannabis-derived products for medical patients, and non-THC products for CBD consumers, announces it has signed an partnership agreement with \n \n MedoCann Pharma Ltd.\n \n (\"Medocann\") for the development of unique new products with exclusive distribution rights into the German and UK medical cannabis markets. \n \n \n \n \n \n Medocann is an established producer of medical-grade cannabis products with an indoor hydroponic facility located in central Israel and\n a library of proprietary cannabis genetics all grown in a fully controlled environment, without the use of pesticides or insecticides. Medocann has an IMC GAP license for commercial propagation and commercial cultivation and is currently selling their premium products in Israel.\n \n \n \n \n \n The partnership agreement between Kanabo and Medocann will focus on the co-development of new and novel strains from flowers and extracts made for specific medical indications through the combination of Kanabo's preclinical data on the effect of cannabis on different illnesses and Medocann's genetics bank, breeding and strain development expertise. The new strains and extracts will be used to launch new co-developed medical cannabis products (\"Co-Developed Products\").\n \n \n \n \n \n The agreement includes the exclusive rights to distribute the Co-Developed Products into both the UK and German medical cannabis markets. The agreement stipulates that Medocann and Kanabo will use commercially reasonable efforts to have the Co-Developed Products available for sale in the target markets, based on 1,000kg of cannabis raw material over the first three years of the agreement, conditional on the existence of all required import and export regulatory documents. \n \n \n \n \n \n The price at which Co-Branded Products will be sold, which will in any event be at least the then-current premium market price, which as of the date of the agreement i...