LONDON--(BUSINESS WIRE)--EMMAC, the European independent medical cannabis company, is pleased to announce the acquisition of a majority interest in Medalchemy, a fully-licensed GMP certified laboratory in Alicante, Spain.
Medalchemy, a technology-based manufacturing company located on the premises of the University of Alicante, has more than a decade of experience in the research, development and manufacture of active pharmaceutical ingredients (APIs) and has submitted license applications to import, research, manufacture and export medical cannabis.
Medalchemy is an established facility, and partners with leading drug development companies globally to provide research and development and manufacture of APIs, as well as studies in relation to the feasibility, stability, production methodologies and validation of API products.
Antonio Costanzo, CEO of EMMAC, commented: “As well as bringing with it immediate revenues, the acquisition of Medalchemy positions EMMAC at the forefront of the rapidly-growing medical cannabis industry in Europe, with the facilities to produce premium quality cannabis products. We plan to put significant investment into Medalchemy’s laboratory and production facilities, creating EMMAC’s international research and development centre, to allow the production, registration and exportation of GMP-certified cannabinoid-based APIs.”
Javier Soto, Managing Director of Medalchemy, said: “We have been approached by a number of organisations over recent months with regards to the large opportunity presented by the growing European cannabis market. We are delighted that as part of EMMAC we will be able to continue to invest in and grow our research and production capabilities to become an industry-leading manufacturer of APIs.”
Olga Francés, General Manager, Science Park, University of Alicante, added: “We are proud that Medalchemy, a spin-out from the University of Alicante and part of the Science Park, has attracted an international investor with great ambitions for the medical cannabis market as EMMAC. We look forward to continuing to support Medalchemy in their new project and next exciting phase of growth.”
Antonio Costanzo concluded: “EMMAC is committed to bringing together the latest science and research into the medical benefits of cannabis. The acquisition of Medalchemy is an important milestone and perfectly positions EMMAC in Spain, Europe’s fifth largest economy, to capitalise on the medical cannabis regulatory developments in the country.”
EMMAC Life Sciences PLC is the European medical cannabis company, working to join together the latest science and research with cutting-edge cultivation, extraction and production. With supply and distribution partnerships throughout Europe, EMMAC is working to establish itself as both a thought leader in the industry, as well as the European leader in the production and supply of medical cannabis, hemp and other derivative products.
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of EMMAC Life Sciences PLC. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term.
Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. EMMAC Life Sciences PLC assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.