Cannabis Distributor Farmako to Become Gateway to Europe

The Frankfurt-based company has applied for a license in the United Kingdom.

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December 12, 2018

FRANKFURT, Germany, Dec. 11, 2018 (GLOBE NEWSWIRE) -- PRESS RELEASE -- The Frankfurt-based pharmaceutical company Farmako is a research-based pharmaceutical company that distributes medical cannabis. The company is active in all European markets that have created a legal basis for cannabinoid therapies. It is the first company for medical cannabis to pursue distribution licences in multiple European countries. For that, it will rely on EU-GMP certified suppliers.

The German market for medical cannabis is estimated at 19.1 million euros in 2018 and at 200 million Euros by 2019. For 2028, experts expect a market volume for medical cannabis of 7.8 billion euros in Germany, an increase by a factor of 400.  The number of patients for cannabinoid therapies in Germany has grown from about 1,000 patients in March 2017 to 13,000 patients in March 2018. By the end of 2018, the number of patients is estimated to be at 30,000. German health insurances currently approve about 65 percent of the requested therapies. For the whole of Europe, experts estimate the market for medical cannabis at 59.3 million Euros in 2018. By the year 2028, it is expected to grow to 55.2 billion Euros, thus increasing the market for medical cannabis by a factor of over 900.

Farmako plans to become vertically integrated in every European country with a legal basis. Farmako already has branches in Germany and the United Kingdom. The company relies on medical cannabis and focuses on research to develop new pharmaceutical products such as capsules, oils or inhalers.

The Farmako founding team consists of Niklas Kouparanis, Mario Reichenbach, Sebastian Diemer, Marcus Ewald, Torsten Rössing and Patrick Schmitt.

Niklas Kouparanis was instrumental in shaping the company as an authorized officer and responsibly supervised the first German-Canadian import certification. He is founder and shareholder.

"With Canada and California, two huge markets have already revolutionized their healthcare," Kouparanis said. "The German market alone is almost as big as these two together. Together, European markets will become the global powerhouse of medical cannabis."

Sebastian Diemer is often described as one of Germany’s most successful founders. He has already set up five companies, creating more than 1,000 jobs and raising over € 300 million in venture capital. His companies always pursued a global focus. He is founder and shareholder.

Marcus Ewald gained experience founding and managing a strategic PR consultancy. He is the federal chairman of the Young Economic Council of Germany, and he founded the Federal Blockchain Association and the Federal Association of AI. At Farmako, he directs public relations and public affairs. He is founder and shareholder.

Torsten Rössing gained experience founding and managing a strategic PR consultancy. He is the regional chairman of the German Public Relations Association in Hesse, Rhineland-Palatinate and Saarland. At Farmako, he manages regulation and privacy. He is founder and shareholder.

Patrick Schmitt is a molecular biologist and certified expert in pharmaceuticals and nutritional supplements. As a sought-after expert he has many years of experience in product development, patenting, assessment and consulting. His work has found expression in more than 500 products on the market as well as a large number of patents. At Farmako, he heads the R & D department. He is co-founder and shareholder.