Harvest One Cannabis Inc. Swiss subsidiary Satipharm AG completes first product shipment to Australia
Harvest One Cannabis Inc. (TSXV:HVT) through its wholly owned Swiss subsidiary, Satipharm AG (“Satipharm“), is pleased to announce that the first shipment of Satipharm’s Gelpell CBD capsules has been received by the Company’s distribution partner HL Pharma in Australia and is ready for distribution, making the capsules one of the first medicinal cannabis products available to approved prescribers in the country.
The proprietary gastro-resitant microgel capsules are able to be used in the treatment of a variety of medical conditions as approved by prescribing physicians under Australian Federal and State legislation.
Satipharm Gelpell CBD Capsules – Product Overview
Satipharm’s Gelpell CBD capsules have successfully undergone a Phase 1 Clinical Trial for safety and bioavailability and are produced under Good Manufacturing Practices (GMP) in Switzerland. The capsules’ active ingredient, cannabidiol (CBD), is derived from medical cannabis grown under Good Agricultural and Collection Practices (GACP) in controlled environments. For the Australian market, the capsules are currently available in a 10mg and a 50mg CBD presentation and contain no detectable levels of Tetrahydrocannabinol (THC). Other formulations that include THC are in development and will be introduced to the market in the near future.
“Bringing Satipharm’s sophisticated products to international medical cannabis markets as legislations open up is an integral part of the Company’s agressive growth strategy,” says Andreas Gedeon, Harvest One’s Chief Executive Officer. “The arrival of our capsules in Australia is great news for medical cannabis patients in the country. It also further manisfests our first mover position as a truly global player in the industry.”
About Harvest One
Harvest One Cannabis Inc. (TSX VENTURE:HVST) controls operations across the entire cannabis value chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG. Each business is strategically located in favourable jurisdictions with supportive regulatory frameworks in place. United Greeneries has received a Canadian medicinal cannabis cultivation license, making Harvest One one of only a few companies globally with the capacity to commercially cultivate cannabis in a federally regulated environment.
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