Dragonfly Biosciences announces medical cannabis venture

Medical cannabis will be produced and distributed across Europe following a new partnership between cannabidiol (CBD) group Dragonfly Biosciences and a leading cGMP pharmaceutical company in Malta.

The product will be manufactured in a cGMP facility to be exclusively distributed in EU territories where medical cannabis is legally permitted to be sold in pharmacies via prescription.

The new venture takes advantage of Maltese regulatory framework, placing Dragonfly at the forefront of the market for patient treatment through advanced formulations and deliveries.

Commenting on the venture, chief operating officer for Dragonfly Biosciences, Hannah Skingle said: “Combining Dragonfly’s growing and extraction expertise with pharmaceutical standards and skill set will enable us to progress in the medical cannabis sector, one of the fastest growing in the Pharma industry. As we progress with our joint venture, we look forward to supporting the health and wellbeing of patients across Europe.”

Chris Wronski, chairman of Dragonfly Biosciences, added: “This strategic move allows Dragonfly to not only to be leaders in the cannabidiol sector but expand to the area of medical cannabis.”