A London-based company has chosen North Macedonia as its site for growing medical cannabis to be sold throughout European markets.
AltoVerde has signed two new partnership agreements to facilitate the deal. It has agreed a 38% partnership with a Macedonian producer, A&J Green House. The two companies will now implement AltoVerde’s grow room design, genetic breeding programme and grow techniques across 2,500 square metres of greenhouse in order to breed, cultivate and produce cannabis for use in a variety of products.
Compliance procedures will be managed by the clinical team in the UK to ensure successful importation and supply to the UK and the rest of Europe, AltoVerde said.
The company has further agreed a “sole supply” partnership with another North Macedonian company. Marijupharma will now implement its grow room design and choice of hydroponic systems in 15,000 square metres of greenhouse space. AltoVerde will initially supply 20 strains to be used for medicinal product development.
“North Macedonia remains one of the few countries in the world with the legal right to grow and export medical cannabis, and the free-market approach is making North Macedonia very attractive,” said AltoVerde founder and chairman Mitesh Makwana.
“At AltoVerde, we have acknowledged this potential and have strategically partnered with A&J Green House and Marijupharma to develop a world-class genetic breeding program and deliver high-quality standardised products to market with a good price point for patients.”
Makwana added that the companies were working to produce a variety of proprietary compounds for Active Pharmaceutical Ingredients (APIs) and medicines.
“Our vision is to be the leading certified, vertically integrated cannabis company, that is headquartered in Europe, and we believe these partnerships will enable us to pursue this goal and bring better products to market,” he said.
AltoVerde was initially involved in cannabis genetics, including cloning and seeds, and much of the current team’s background is still from such experience, according to Makwana.
The company had originally looked into starting its own growing facilities from scratch but changed its plans after investigating the possibility of being able to grow fully-compliant product in already existing licensed facilities in North Macedonia.
The company has its sights set first on the UK and German medical cannabis markets but challenges remain, Makwana told CBD-Intel.
“Clinicians are finding it hard to get their heads around prescribing to people and there are a limited number of clinics, which means patients aren’t even fully aware of what they can get access to if they have the need and fit the criteria,” he said. “It’s growing but it’s slow. It’s a bit like pin-a-tail-on-a-donkey at the moment. We want to position ourselves to have a good product available.
“The demand is not massive at the moment but there is potential there for it to be.”
– Freddie Dawson CBD-Intel staff
Photo: Wikimedia Commons