Cannovum AG enters the full-spectrum cannabis extract market

DGAP-News: Cannovum AG / Key word(s): Product Launch
29.06.2021 / 08:28
The issuer is solely responsible for the content of this announcement.

Cannovum AG (stock exchanges Düsseldorf, Munich, Hamburg, Berlin, gettex: ISIN DE000A2LQU21) has signed a supply agreement for full-spectrum cannabis extracts through its licensed subsidiary, Cannovum Health eG. The manufacturer is a non-European pharmaceutical company with many years of experience in the extraction process. The extracts are distributed to pharmacies under Cannovum's own brand.

Herbal medicines develop their complete effect through the interaction of all herbal substances, the commonly called entourage effect. This important mode of action is preserved in cannabis extracts obtained from the full spectrum of the plant.

Cannabis extracts are becoming increasingly important in the market across Europe. In Germany, steady growth is emerging over the last three years, with pharmacy purchases of extracts rising from 4.8 liters in 2017 to more than 1,300 liters in 2020, with the first half of last year alone seeing a 63% growth in purchase volume.

"We want to supply patients in Germany and Europe with medical cannabis. Full-spectrum extracts play an important role in this, because their mode of action and ease of oral application offer another therapeutic option. This allows us to cover the full therapeutic spectrum and reach a large patient group," says Pia Marten, CEO of Cannovum AG.

The inclusion of cannabis extracts in the product portfolio is an important step towards making cannabis-based therapies possible across the board. Cannovum supports physicians and pharmacists in caring for patients through a complete medical cannabis portfolio. This gives physicians the opportunity to fully customize the therapy for their patients, because every patient deserves the best therapy.

Contact:

Linda Rasch, IR & PR, Cannovum AG
Phone +49 30 3982 163 62, linda.rasch@cannovum.com

Cannovum AG is the first German listed medical cannabis company. The shares are traded on the Düsseldorf, Munich, Berlin, Hamburg and gettex stock exchanges. Through its subsidiary Cannovum Health eG, Cannovum is a fully licensed pharmaceutical wholesaler, importer and manufacturer of high-quality medical cannabis products based in Berlin. The company focuses on the import of high-quality cannabinoid products, medical-scientific education and all-encompassing distribution for simplified and facilitated access to cannabis-based therapies.

For more information, visit www.cannovum.com

29.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de