Cannasure and DanCann Pharma sign an exclusive distribution agreement for Denmark, Norway, Sweden and Finland
ASHDOD, Israel, Dec. 15, 2020 /PRNewswire/ -- Cannassure Therapeutics Ltd (TASE: CSURE) ("Cannassure"), an Israel based developer and producer of innovative medical cannabis products, announces today the singing of an exclusive distribution agreement with DannCan Pharma. Under the agreement, Dancann will distribute Cannasure's medical cannabis products in Denmark, Norway, Sweden and Finland. The specific products, as well as the branding will be determined mutually by both parties.
Medical cannabis in Denmark has reached approx. 5,800 patients with approx. 27,000 prescriptions due to Q2 2020 numbers. To date, the medical cannabis sector in Denmark has a turnover of approx. Euro 14 million – on its still early-stage days – mainly through the primary health care sector.
DanCann Pharma (SS:DANCAN) was founded in 2018 and is a Danish pharmaceutical biotechnology company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed cultivation and distribution company based in Denmark. The company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.
Ram Amir, Cannasure CEO, stated: "We are extremely happy with the distribution agreement with DanCann Pharma, a leading player in the cannabis market in Scandinavia. This is our second distribution agreement in Europe, and we believe that this collaboration will benefit both our companies, as well as patients in Scandinavia, and we look forward to bring our products to the market in 2021."
The CEO of DanCann Pharma, Mr. Jeppe Krog Rasmussen, said, "We are very pleased to establish this long-term commercial partnership with Cannassure. Cannassure is a respected pharmaceutical company with significant market presence in Israel. This partnership provides further recognition of DanCann Pharma's platform and pipeline – and verify and sustain that we are faithful to our values with this collaboration in terms of quality and innovation."
"This agreement aligns well with our strategy of strengthening our diversified business and expanding our pipeline. If approved, these pharmaceuticals will provide patients with further alternative treatment options," said Mr. Jeppe Krog Rasmussen, CEO, DanCann Pharma. "We look forward to working with Cannassure to bring these products to market."
About Cannassure Therapeutics Ltd.
Cannassure Therapeutics Ltd. (TASE:CSURE) is a leading, world class, trusted developer and provider of top-quality-grade medical cannabis products and pharmaceutical cannabinoid medicines, addressing a broad range of unmet medical needs.
About DanCann Pharma
DanCann Pharma was founded in 2018 and is a Danish pharmaceutical biotechnology company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed cultivation and distribution company based in Denmark. The company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.
SOURCE Cannassure Therapeutics Ltd