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Rua Bioscience Limited — Regulatory Filings 2021
Mar 17, 2021
66262_rns_2021-03-17_ac88e4c5-e9d8-4edb-bd9e-cfcb735ea06d.pdf
Regulatory Filings
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MARKET ANNOUNCEMENT
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FOR PUBLIC RELEASE NZX Limited Wellington
Wednesday, March 17, 2021
Rua Bioscience exports first sample medicinal cannabis flower to Germany
Rua Bioscience has successfully exported a sample of medicinal cannabis flower grown in Ruatorea to Germany.
The sample of dried flower is similar to the product Rua aims to export in commercial quantities by the end of this year, as part of its sales agreement with German distributor, Nimbus Health. Though weighing just 70 grams, it has enabled the company to test its packaging and export processes.
Dr. Jessika Nowak, Rua’s Chief Research Officer, says this is the first time cannabis flower has been exported in any quantity from New Zealand to Germany and it has provided valuable early learning opportunities for all involved.
“This sample export was specifically designed as a practice run. Despite the sample’s size, we had to navigate the same complex web of export licencing arrangements, customs regulations, temperature controlled logistics and shipping timelines, that we will when we’re in a position to export commercially,” says Dr Nowak.
Once received by Nimbus Health, data from the temperature logger in the package was assessed to determine that the packaging performed as expected to keep the plant material at the required temperatures throughout shipping. The plant material was then sent on to a commercial laboratory in Germany for analytical testing.
“We were very pleased to receive this sample at our facility near Frankfurt and look forward to seeing commercial quantities for German patients when it is ready,” said Nimbus Health CEO, Linus Weber.
Mr Weber said Nimbus has been expanding its range of medicinal cannabis to meet the growing demand from German patients for product. The Rua Bioscience product is expected to be considered a premium option available across the German market.
“Importing medicinal cannabis products from New Zealand will give doctors a whole new level of therapeutic options in treating seriously ill patients,” concludes Mr Weber.
Rua Bioscience CEO, Rob Mitchell, says this is a small, but important step for Rua in learning and understanding the export process, end to end.
PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com
“Rua has a clear export strategy, and our first focus is on the German market. This sample export of dried medicinal cannabis flower to Germany gives us growing confidence that we are on the right track to export our commercial flower to Germany by the end of this year, “says Mr Mitchell.
ENDS
About Rua’s Export Strategy
Consumption of medicinal cannabis is currently legal in over 40 countries and 33 states in the USA, with the global sector estimated by some industry analysts to be worth over US$62.6bn by 2024.
The German market, Rua’s first strategic focus, is Europe’s most mature medicinal cannabis market and currently the largest single market for GMP (pharmaceutical) grade cannabis in the world. According to latest reports, more than 120,000 people are using legal medicinal cannabis products in Germany. According to reports from the BfArM (The German Federal Institute for Drugs and Medical Devices), imports of medical cannabis flower into Germany hit record highs in Q4,2020, closing the year with a 37% year on year growth. Germany imported 3,264 kilograms of medical cannabis flower in that quarter, the largest amount of any quarter to date, bringing the yearly total for 2020 to 9249kgs.
Nimbus Health is an independent pharmaceutical wholesaler that specialises in the importation and distribution of medicinal cannabis products into Germany. The company provides pharmacies across Germany with pharmaceutical-grade medicinal cannabis products for patient prescriptions.
Rua Bioscience was the first New Zealand company to announce a binding export agreement with a reputable distributor in Germany and is Nimbus Health’s exclusive New Zealand supplier. The arrangement provides certainty for the company’s production goals and signalled international confidence in Rua’s ability to produce pharmaceutical-grade cannabis medicines.
About Rua Bioscience
Rua Bioscience is a New Zealand pharmaceutical company aiming to be a leading producer of cannabinoid derived medicines for both export and local markets. Rua has been an early mover in the sector and was the first private company in New Zealand to receive a licence to cultivate cannabis for research purposes. Founded in 2017 in Ruatorea as a subsidiary of charitable company Hikurangi Enterprises Limited, Rua is underpinned by its mission to heal the people and heal the land. It is committed to New Zealand’s Te Tairāwhiti (East Coast) region and its connection with its local community. The company has completed facilities for cultivation and manufacturing. www.ruabio.com
For more information, please visit www.ruabio.com, or contact:
Kerry Donovan Communications Manager Rua Bioscience M 021 128 7689 [email protected]
PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com