It was officially announced today that New Zealand medical cannabis company, Ora Pharm, has signed an exciting partnership agreement with Canngea, one of Australia’s leading companies in the manufacture and distribution of medical cannabis.
Under the partnership, Ora Pharm will deliver dried cannabis flowers to Canngea for contract manufacturing for their customers, and Canngea will manufacture and distribute Ora Pharm’s high quality medicinal cannabis products for the Australian and New Zealand markets.
Canngea is a licensed B2B contract manufacturer and wholesaler of GMP – certified medical cannabis products in pharmaceutical quality. The company is licensed to store and deliver cannabis products for pharmacies and clinics in accordance with strict Australian medical cannabis regulations.
Canngea also has a strategic partnership with the University of Sydney to facilitate research and development that can add value to the company’s business partners.
Ora Pharm founder and CEO Zoe Reece emphasizes that this is the beginning of a true partnership between companies that are fully committed to maintaining the highest standards of quality and safety for medical cannabis.
“Canngea’s vision and values align with ours, and I am confident that this partnership will be mutually beneficial in the long term as we explore new opportunities and markets together,” says Reece.
The partnership will accelerate Ora Pharm’s rollout in the Australian market and build strong revenue streams through the sale of dried flowers and finished products.
Canngea chose to partner with Ora Pharm because the company grows unique cannabis strains and has the skills and experience to grow high quality, consistent, high yielding, GACP certified dried flowers and biomass on the cutting edge of Waikato facility.
Canngea’s managing director Ryan Ballantyne said:
“We are very excited to be working with Ora Pharm to develop medicinal cannabis strains exclusively for the Australian market. We specifically selected these strains for development to meet growing patient demand. “
Ballantyne added, “Ora Pharm’s commitment to quality and access to unique strains has led us to work with the team across Tasman. As we develop these exclusive strains, Canngea will manufacture, store and distribute Ora Pharm’s patient-friendly oral solutions for both the Australian and New Zealand markets. “
“No other cannabis company in New Zealand or Australia makes the same strains as Ora Pharm, which Canngea saw as a competitive advantage,” says Reece.
“The quality of pharmaceutical grade cannabis starts with the seed, and the seed we grow our cannabis from is a unique, high-quality, high-yielding strain that we expect to produce excellent results.”
Ora Pharm develops ready-to-use tincture formulations that are mixed with native New Zealand botanicals and manufactured by Canngea under strict GMP processes. Ora Pharm also develops unique cannabis strains exclusively for Canngea.
Ora Pharm is currently conducting a Series A capital increase through the Syndex platform, and the partnership agreement with Canngea is viewed by investors as an important milestone in building the company’s revenue stream.
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