Madrid – Trichome Pharma, a Spanish pharma start-up specialized in medicinal cannabis and consumer healthcare, is delighted to welcome Labiana Pharmaceuticals, S.L. (Labiana) and Little Green Pharma Ltd. (LGP) as investors and strategic partners. The move serves to strengthen Trichome Pharma’s cap table with leaders in the pharmaceutical and cannabis sectors, while forging partnerships in order to fulfill its ambition of becoming the first distributor of medicinal cannabis in Spain.
Following a recent announcement about receiving a medicinal cannabis cultivation license from the Spanish Agency of Medicines and Medical Devices (AEMPS) for R&D, today’s disclosure further validates Trichome Pharma’s vision and underscores their commitment to building a future where cannabis is considered a viable alternative in mainstream healthcare for patients and consumers in Spain and abroad.
“Labiana and LGP are both highly respected leaders in their relevant niches. Naturally, we’re very excited to welcome them both as shareholders and strategic partners. We thank them for their support and trust in our vision.” Says Nicholas Balk, CEO of Trichome Pharma and Managing Director of Trichome Capital.
Trichome Pharma’s goal is to eventually produce and distribute a full suite of cannabis products (API’s and finished products) for the medicinal market in Spain and abroad.
“Our partnership with Labiana makes perfect sense, given their expertise in third-party EU-GMP manufacturing of specialized medicines, including psychotropics, as well as their strengths in pharmaceutical distribution. Likewise, LGP has some of the highest quality medical cannabis products available and a successful commercial track record in complex regulatory environments” Added Balk. “LGP’s range of flowers and oil- based preparations will perfectly complement what we aim to produce locally here in Spain and allow us to achieve our goal of being first to market”.
Labiana’s investment in Trichome Pharma is a vote of confidence from the traditional pharmaceutical industry in the potential of cannabis as a regulated therapeutic in Spain.
“The medicinal cannabis sector needs to be taken seriously on issues of quality and safety, especially by prescribers and their patients. On the other hand, no one knows cannabis better than those that work with the plant directly. Both big pharma and the cannabis sector stand to benefit from closer collaboration and a transfer of knowledge. The unique part of our offer is that we’re bringing experts from different fields together to build a platform of open innovation. This serves to deliver only the best possible outcomes for patients and consumers.” Says Daniel Krupp, Trichome Pharma’s Director of Consumer Healthcare.
According to Manuel Ramos, Labiana’s President and CEO, “this commitment to the medical cannabis business is part of the company’s strategic innovation plan, which seeks to stay one step ahead in order to respond to all market needs. And in this case, at Labiana, we are authorized and experienced in the production of psychotropic and narcotic products, and it is clear that the medicinal use of cannabis is already, as we can see, a reality that is increasingly regulated by governments around the world, with a lot of potential for growth.”
Trichome Pharma’s collaboration with Little Green Pharma began after fellow Australians Balk and Fleta Solomon, CEO of LGP, met a few years ago at a conference in Germany, Europe’s largest medicinal cannabis market. LGP, a Western Australian based medicinal cannabis company, who already has a significant share of its home market is also making inroads abroad with recent deals providing access to more than half of the addressable European Union market. It recently announced a spate of commercial deals across Europe, including major markets such as the UK, Germany, Italy, and France.
“Spain is the next major market in Europe to legalize medicinal cannabis. We’re very excited to anticipate a change in regulation and develop this partnership with Trichome Pharma, in a market that should be comparable in size to France or Italy at maturity.” Said Solomon.
Labiana and LGP’s entry into the Spanish medicinal cannabis market comes at a major inflection point. While the lack of regulation remains a roadblock for some, greater clarity is expected in the coming days when the Health Commission will vote on a proposal recently put forward by a special government subcommittee on medicinal cannabis regulation. On June 21 the subcommittee agreed on and presented a long- awaited report which contemplates the prescription of medicinal cannabis for a limited number of illnesses.
Whichever the outcome, Trichome Pharma banks on a bright future for medicinal cannabis in Spain. The proceeds from their recent capital raise will be allocated to investments that are aligned with this thinking long-term and plans to raise additional capital towards the end of the year.
Trichome Pharma is a leading pharmaceutical company specialized in the cultivation, development, and commercialization of medicinal-grade cannabis and hemp-derived consumer healthcare products. Its activities include agronomic research, product innovation, brand development, market access and distribution, as well as education and social awareness.
Trichome Pharma’s operations, consisting of organically certified outdoor cultivation and low-touch greenhouse facilities, provide the perfect conditions for growing the best and highest quality cannabis available. Downstream, it’s developing Spain’s first family of wellness brands based on phytocannabinoids, targeting high-growth consumer healthcare niches with attractive margins.
Labiana is a BME Growth listed company focused on human and animal health, fully committed to global health. It was founded in 1958 as a veterinary pharmaceutical laboratory and in 2002 it incorporated the human health area. It has a portfolio of products marketed in more than 150 countries, leveraging on a strong brand value based on its long history in the sector. With regard to the human health division, Labiana has extensive experience in contract manufacturing services for the human pharmaceutical industry and boasts an EU-GMP production plant with current authorization for psychotropic and narcotic drugs as well for several pharmaceutical forms including oral solids forms and freeze dried and liquids sterile forms and with a capacity of about 60 million units of finished goods. Among other expertise, Labiana has Film Coating and sugar coating, chewing gums and lyophilization Technologies available, as well as a strong packaging capability including 8 packaging lines and has registered several marketing authorizations worldwide. With a competitive and highly trained team spread among the Technical, operations, Regulatory Affairs and Development departments, Labiana can assist with a series of integrated services on different levels of the drug development: from the concept to the production and commercialization.
Find out more at: https://www.labiana.com
Follow on: https://www.linkedin.com/company/labiana-pharmaceuthicals-slu
Little Green Pharma (LGP) is one of the most recognizable brands in the European and Australian medical cannabis space. With world class operations in Australia and Denmark LGP now has all the building blocks in place to deliver profitable outcomes. LGP is a vertically integrated producer of only the highest quality medicine (EU-GMP) and boasts a strategic positioning in existing and emerging EU markets.
Find out more at: https://www.littlegreenpharma.com
Follow on: https://www.linkedin.com/company/little-green-pharma
Trichome Capital is an independent advisory firm specialized in providing corporate finance, strategic consulting and investment management services to the regulated cannabis industry and parallel sectors including the agri-food value chain and healthcare. In 2020, with the support of trusted investors, the firm launched its first cannabis investment vehicle focused on developing and investing in leading, legal, “cannabusinesses” in Spain and abroad.