Earlier this year a Byron Bay-based company achieved a milestone with the first Aussie-grown medicinal cannabis exports to Europe, but soon Australian Natural Therapeutics Group (ANTG) hopes to say the same for the New Zealand market.
Within weeks of announcing a deal with Canada's Asterion Cannabis to build a $400 million medicinal cannabis growing facility near Toowoomba in Queensland, ANTG continues to blaze its dealmaker path through a partnership with New Zealand's largest medicinal cannabis distributor, NUBU Pharmaceuticals.
In an Australian-first, the agreement will see locally cultivated and dried medicinal cannabis flower shipped to New Zealand in the second half of the year, with oils to follow.
ANTG chief executive officer Matthew Cantelo described the deal as a coup for both countries, cementing the mutually beneficial trans-Tasman relationship.
"We are pleased to announce a strategic investment in NUBU Pharmaceuticals," Cantelo said.
"This landmark deal means ANTG will be the first Australian flower imported into New Zealand, and potentially, the first company to legally sell flower in New Zealand, ever.
"NUBU has spent the last five years building a distribution network that now reaches every pharmacy in New Zealand, which means our Kiwi neighbours, no matter where in New Zealand they are, will have access to the highest quality Australian flower while their home-grown cultivation industry starts producing.
Cantelo added that first and foremost, ANTG products will be made available to Australian patients, grown in compliance with international quality standards GACP and GMP.
NUBU Pharmaceuticals CEO Mark Dye welcomed the ANTG agreement, adding that it will be mutually beneficial for both countries.
"ANTG are very much leading the Australasian cannabis industry. We are over the moon to have them as a distribution partner and an investor, and can't wait to make ANTG product available to patients locally," Dye said.Never miss a news update, subscribe here. Follow us on LinkedIn, Instagram and Twitter.
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