Tilray Exports First-Ever Shipment of Medical Cannabis Allowed Into Israel
January 02 2020 - 11:00AM
Business Wire
Company signs 2.5 tonne supply agreement
with Canndoc Ltd., to address supply shortage of medical cannabis
products for Israeli patients
Export to Israel originates from Tilray’s
Portugal facility; Tilray now exports medical cannabis to 15
countries worldwide
Tilray, Inc. (NASDAQ:TLRY), a global pioneer in cannabis
research, cultivation, production and distribution, today announced
it has entered into a agreement with Canndoc Ltd., ("Canndoc"), a
wholly-owned subsidiary of InterCure Ltd. (TASE: INCR), through its
wholly-owned subsidiary Tilray Portugal Unipessoal Lda. (“Tilray
Portugal”), to export a wholesale shipment of up to 2.5 tonnes of
medical cannabis from Portugal to Israel. The shipment, which will
arrive early this month, is the first medical cannabis import
allowed into Israel.
“We at Canndoc are driven by the mission of meeting patients’
needs and improving their quality of life,” says Ehud Barak, former
Israeli Prime Minister and Chairman of the Canndoc Board of
Directors. “With a supply shortage of medical cannabis in Israel,
it’s incredibly important to partner with a trusted company like
Tilray to import and distribute GMP-certified medical cannabis to
physicians, pharmacies and patients across the country.”
Brendan Kennedy, Tilray’s Chief Executive Officer, said, “To be
able to import medical cannabis into Israel for patients in need is
truly a historic moment not only for Tilray, but the whole
industry.” He continued, “We’re incredibly honored to help increase
patient access in Israel while becoming the first to ship medical
cannabis into the country. Israel represents our fifteenth export
country and the second shipment from our EU Campus in Cantanhede,
Portugal.”
Founded in 2008 in Herzliya, Israel, Canndoc is an IMCA (Israeli
Medical Cannabis Agency) permit holder for the manufacturing of
medical cannabis in Israel and is the country’s first public
company in the field. Canndoc has been active for more than 10
years in researching, developing, cultivating and marketing medical
cannabis to thousands of patients under a wide range of medical
indications approved by Israel’s Ministry of Health.
Tilray has a pioneering track record as a company committed to
making pharmaceutical-grade medical cannabis products available to
patients in need around the world. Tilray was the first licensed
medical cannabis producer to successfully export medical cannabis
from North America and import medical cannabis products into the EU
in 2016.
In addition to the Tilray-Canndoc Israel supply agreement and to
further support the Israeli medical cannabis market expansion,
Tilray has also agreed to purchase up to 5 tonnes of GMP-certified
whole flower from Canndoc beginning in mid-2020. If future Israeli
regulations allow, the whole flower will be shipped to Tilray’s
Portugal facility and turned into GMP-certified finished product to
distribute across Europe. Otherwise, the whole flower will be
developed into finished medical cannabis and distributed as a
Tilray-Canndoc branded GMP-certified finished product in Israel to
further support local supply needs.
About Tilray® Tilray is a global pioneer in the research,
cultivation, production and distribution of cannabis and
cannabinoids currently serving tens of thousands of patients and
consumers in 15 countries spanning five continents.
About InterCure and Canndoc InterCure is the first public
company on the Tel Aviv Stock Exchange to hold a valid and
permanent license for the entire medical cannabis value chain
through its 100% ownership in Canndoc. Canndoc is an Israeli
medical cannabis producer, licensed by the Israeli Ministry of
Health since 2008. Canndoc is a leading pioneer in the research,
cultivation, processing and distribution of pharma-grade
cannabis-based products to licensed patients, hospitals,
physicians, research and governmental organizations.
Forward Looking Statements This press release contains
“forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and “forward-looking
information” within the meaning of Canadian securities laws, or
collectively, forward-looking statements. Forward-looking
statements in this press release may be identified by the use of
words such as, “may”, “would”, “could”, “will”, “likely”, “expect”,
“anticipate”, “believe, “intend”, “plan”, “forecast”, “project”,
“estimate”, “outlook” and other similar expressions.
Forward-looking statements are not a guarantee of future
performance and are based upon a number of estimates and
assumptions of management in light of management’s experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances, including assumptions in
respect of current and future market conditions, the current and
future regulatory environment and future approvals and permits.
Actual results, performance or achievement could differ materially
from that expressed in, or implied by, any forward-looking
statements in this press release, and, accordingly, you should not
place undue reliance on any such forward-looking statements and
they are not guarantees of future results. Please see the heading
“Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was
filed with the Securities and Exchange Commission on November 13,
2019, for a discussion of the material risk factors that could
cause actual results to differ materially from the forward-looking
information. Tilray does not undertake to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20200102005372/en/
Tilray Media, Global: Chrissy Roebuck, +1-833-206-8161,
news@tilray.com Investors: Rachel Perkins, +1-646-277-1221,
rachel.perkins@icrinc.com
Canndoc Media, Global: Tamar Avital,
tamara@canndoc-pharma.com
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