NEUMÜNSTER, Germany,
July 22, 2024 – PRESS RELEASE –
Tilray Brands Inc., a global leader in cannabis research, cultivation,
production and distribution, announced that its Germany cannabis cultivation
facility, Aphria RX GmbH (Aphria RX), has received the first new cannabis
cultivation license issued under MedCan-G, Germany’s new Cannabis Act. The new
cannabis cultivation license allows Aphria RX to cultivate and manufacture a
broad commercial range of medical cannabis, providing patients with better
access to high-quality medical cannabis produced in Germany.
“We are thrilled to
receive this license as it will provide greater access to some of the highest
quality medical cannabis produced in Germany and enable us to expand the range
of treatment options available to patients,” Tilray Chief Strategy Officer and
Head of International Denise Faltischek said. “We appreciate the trust that the
German government has placed in Tilray, and we are proud of our team for their
groundbreaking work in medical cannabis cultivation and patient care.”
In May 2019, Aphria RX was
awarded the most comprehensive license for the cultivation of medical cannabis
in Germany from the German Federal Institute for Drugs and Medical Devices (BfArM),
having been awarded a total of five lots (1,000 killograms) and was the only
licensed producer in Germany with permission to grow all three
strains of medical cannabis approved by the BfArM.
The introduction of the
MedCan-G Bill in Germany has led to a significant increase in the number of
patients and prescribers for medicinal cannabis. With the new cannabis license,
Tilray is well-positioned to take full advantage of the market opportunity.
Additionally, Aphria RX
can now fully utilize and maximize its growing capacity while also expanding
its genetics to a total of 31 approved strains from the previously approved
three strains. Originally designed with guidance from Kevin Anderson, the renowned
cannabis grower of Broken Coast, Aphria RX can now replicate the growing
conditions at Broken Coast, maximizing Aphria RX's potential as a premium craft
grower.
As a leader in the field
of medical cannabis research and production, Tilray strongly believes that
these developments will have a positive impact on the health and well-being of
many patients in Germany. The company looks forward to exploring the path
opened by the German government and all stakeholders in promoting improved
access to medical cannabis and the opportunity to optimize care for its
patients.
