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Clever Leaves Reports Supply Deal With Ethypharm For Sale Of Medical Cannabis Extracts To German Market, No Terms Disclosed

Clever Leaves Holdings Inc. (NASDAQ:CLVR, CLVRW)) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, today announced

· 03/17/2021 09:10

Clever Leaves Holdings Inc. (NASDAQ:CLVR, CLVRW))) (“Clever Leaves” or the “Company”), a leading multi-national operator and licensed producer of pharmaceutical-grade cannabinoids, today announced the signing of a supply agreement with Ethypharm (“Ethypharm”), a European manufacturer and distributor of pharmaceutical products, for the sale of medical cannabis extracts produced in Clever Leaves’ EU-GMP certified facilities in Colombia. The initial portfolio of products includes high-CBD, high-THC, and balanced CBD and THC formulations developed exclusively by Clever Leaves to meet the regulatory needs of the German market.

The products manufactured under this partnership will be sold within Ethypharm’s branded portfolio and will expand Ethypharm’s core product offering focusing on Central Nervous System (CNS) diseases and conditions, chronic pain, and critical care treatments. The portfolio will be sold in Germany through Ethypharm’s local subsidiary, Ethypharm GmbH, and distributed directly to pharmacies, where they will be dispensed to patients as prescribed medicinal products.

“This partnership with Ethypharm, an established European pharmaceutical company, advances our vision of providing market-leading medical cannabis products to patients. Clever Leaves’ focus on high-quality EU-GMP certified production and our international supply chain has positioned us to develop, produce and ship products to end-markets that will have significant impact on patients’ treatments”, said Kyle Detwiler, CEO of Clever Leaves. “Partnering with an established pharmaceutical company like Ethypharm also allows Clever Leaves to more broadly enter the German pharmaceutical market, which is currently considered one of the most important international medical cannabis markets due to its size, pace of growth, and Germany’s clinical credibility in terms of paving the way to entering additional European or international pharmaceutical markets.”

"Partnering and working with physicians and pharmacists to improve people’s lives is one of Ethypharm’s daily ambitions. Today, providing medical cannabis will answer a clear unmet medical need for patients who are not relieved with current treatments. This innovative collaboration on medical cannabis with Clever Leaves is a good example of how Ethypharm has developed new ways to provide patients with the care they need.” said Bertrand Deluard, CEO of Ethypharm.

Clever Leaves boasts multiple international certifications including a Good Manufacturing Practices (GMP) Certification by INVIMA; Good Agricultural and Collecting Practices (GACP) Certification; and European Union Good Manufacturing Practices (EU GMP) Certification.

Ethypharm, was recently awarded a role in the French cannabis experiment in a partnership with Aurora.