- Creso Pharma (CPH) enters a non-binding LOI with Innuana AG Switzerland
- Innuana is a licensed cannabis grower in Switzerland and might grow crops under Creso’s specifications.
- According to Creso, there will be 110,000 medical cannabis patients in 2022 in a market expected to grow to the value of $1.9 billion by 2028.
- CPH said the first stage plans include marketing the products to oncologists and cancer patients in Switzerland.
- Creso Pharma is up 8.33 per cent on the market with shares trading at 13 cents
Creso Pharma (CPH) has entered a non-binding letter of intent (LOI) with a Switzerland-based licenced cannabis grower Innuana.
Innuana is focused on the research, growing, processing and production of medicinal grade cannabis and, under the LOI, will grow crops under Creso’s specifications.
CPH said the first stage plans include marketing the products to oncologists and cancer patients in Switzerland.
Creso Pharma Director of International Operations Jorge Wernli said the changes to Swiss law in regards to medical cannabis has made all the difference.
“Recent regulatory shifts in Switzerland have unlocked a significant opportunity for Creso Pharma and this collaboration with Innuana marks the first step in our expansion into the Swiss prescription market,” Mr Wernli said.
According to Creso, there is expected to be 110,000 medical cannabis patients in 2022 in a market expected to grow to the value of $1.9 billion by 2028.
“Healthcare professionals will now be able to prescribe medical cannabis products to a large range of patients and importantly this agreement will allow Creso to grow cannabis to its own specifications utilising pharmaceutical experience and product expertise,” Mr Wernli said.
Creso Pharma was up 8.33 per cent on the market, with shares trading at 13 cents at 2.20 pm AEDT.