Khiron Gets Authorization For Commercial Cannabis In Local And Export Market

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Khiron Life Sciences recently received commercial quotas by Colombian Technical Quotas Group for domestic sales and export of psychoactive cannabis. This license permit allows the company to both grow and commercialize the product and export the complete plant extract to nations like Brazil and Uruguay. The company which is a Latin America based vertically integrated cannabis firm stated that it is the only company in Colombia to commercialize THC for both local and export markets.

This is a key milestone for the company as it has to bring medical cannabis products to market within given timeline. The government authorization provides permit to the company to cultivate around 560 kilograms of high grade THC cannabis in 2019. According to Khiron VP regulatory affairs Juan Diego Alvarrez the receipt of these quotas is a boon as with them the firm has become the first firm in Columbia to commercialize whole plant extract of THC for local and international market.

It also paves the way for its patients to receive high THC medical cannabis prescriptions that improve quality of life. Production of psychoactive cannabis in Columbia is highly regulated and follows a rigorous process in which companies have to register strains of their commercial product with Colombian Agricultural Institute for stability testing. Commercial quota seekers also have to show legal demand for their products. Khiron received two quotas from TQG for commercial cultivation and fabrication after completing the process.

Commercial cultivation by Khiron will begin in the last quarter of 2019 and it will utilize strains registered with ICA’s National Cultivar Registry. Khiron will also be able to export complete plant extract as raw material to Uruguay under Mercosur trading bloc and also to Brazilian medical cannabis market which is valued at CAD $18 billion. Through its products Khiron aims to treat around 15000 patients for their medical conditions like chronic pain, nausea and anxiety. The production of high THC plant extract is expected to begin in the 1st quarter of 2020.

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