Assets will complement its warehousing and distribution facility
Durrant Pate/ Contributor
Jamaican Medical Cannabis Corp. (JMCC), a Toronto and Jamaica-based company has acquired the European Union (EU) Good manufacturing practice (GMP) certified medical cannabis production facility and other assets in Malta of Materia Ventures.
Materia Ventures is a European-focused supply and distribution company for cannabis and CBD products. No sale price has been disclosed by the privately owned businesses.
The Malta unit will be renamed JMCC Life Sciences, Europe. The deal comes with Materia’s 32,000-square-foot processing and manufacturing facility in Malta, which is an island-state, located in the Mediterranean Sea, south of Sicily (Italy).
Complementing warehousing and distribution facility
JMCC says the Malta assets will complement its warehousing and distribution facility, JMCC European Distribution Ltd, located on the island of Jersey, between Britain and France.
JMCC CEO, Diane Scott in a statement explained, “We’ve made a commitment to both patients and healthcare professionals globally that JMCC will invest in the R&D required to produce science-led and pharma-like products that are scientifically proven to be safe and effective as well as easier for patients and prescribers to use. And we’re sticking with that promise, despite the bigger financial appeal the rec market might offer.”
In Malta, the Production of Cannabis for Medicinal and Research Purposes Act provides the legal framework for cannabis production, following the amendment of Malta’s Drug Dependence Act, which allows prescriptions for medical cannabis preparations. The GMP certification confirms that the Malta processing facility has met the minimum standard that a medicines manufacturer must meet in their production processes.
The European Medicines Agency (EMA) coordinates inspections to verify compliance with these standards and plays a key role in harmonising GMP activities at the EU level.