It has been officially announced today that New Zealand medicinal cannabis company, Ora Pharm, has struck an exciting partnership deal with Canngea, one of Australia’s leading medical cannabis manufacturing and distribution companies.
The partnership will see Ora Pharm supply dried cannabis flower to Canngea for contract manufacturing for their customers and will involve Canngea manufacturing and distributing Ora Pharm’s premium medicinal cannabis products for the Australian and New Zealand markets.
Canngea is a licensed B2B GMP-certified manufacturer and wholesale distributor of pharmaceutical-grade medical cannabis products. The company is licensed to store and supply cannabis products for pharmacies and clinics under Australia’s strict medical cannabis regulations.
Canngea also maintains a strategic partnership with the University of Sydney to facilitate research and development, which can deliver additional value to the company’s business partners.
Ora Pharm Founder and CEO, Zoe Reece, emphasizes that this is the beginning of a true partnership between companies that are wholly committed to upholding the highest medical cannabis quality and safety standards.
“Canngea’s vision and values align with ours and I’m confident this partnership will be long-term and mutually beneficial as we explore new opportunities and markets together,” Reece says.
The partnership will expedite Ora Pharm’s launch into the Australian market and will build strong revenue streams through the sale of both dried flowers and finished products.
Canngea chose to partner with Ora Pharm because the company is cultivating unique cannabis strains and has the capabilities and experience to grow high-quality, consistent, high-yield, GACP-certified dried flower, and biomass at its state-of-the-art Waikato facility.
Canngea’s Managing Director, Ryan Ballantyne, said, “We’re thrilled to be partnering with Ora Pharm to develop medicinal cannabis strains exclusively for the Australian market. We have specifically chosen these strains to develop in order to meet the growing demand from patients.”
Ballantyne added: “Ora Pharm’s dedication to quality and access to unique cultivars was what attracted us to working with the team across the Tasman. While we develop these exclusive strains, Canngea will be manufacturing, storing and distributing Ora Pharm’s patient-ready oral solutions for both the Australian and New Zealand markets.”
“No other cannabis companies in New Zealand or Australia are producing from the same strains as Ora Pharm, which Canngea saw as a competitive advantage,” Reece says. “Pharmaceutical-grade cannabis quality starts with the seed, and the seed that we are growing our cannabis from is a unique, high quality, high yield strain, which we expect to produce excellent results.”
Ora Pharm is developing patient-ready tincture formulations blended with native New Zealand botanicals, which will be manufactured by Canngea under strict GMP processes. Ora Pharm is also developing unique cannabis strains exclusively for Canngea.
Ora Pharm is currently undertaking a Series A capital raise via the Syndex platform and the partnership agreement with Canngea will be seen by investors as a major milestone in building the company’s revenue stream.
