Licensing and certification enhances company’s capacity to export
medical cannabis from Portugal to Germany, other EU member states and
international markets
NANAIMO, British Columbia--(BUSINESS WIRE)--May 23, 2019--
Tilray, Inc. (“Tilray” or “the Company”) (NASDAQ:TLRY), a global pioneer
in cannabis research, cultivation, production and distribution, today
announced that its wholly-owned subsidiary Tilray Portugal Unipessoal
Lda. (“Tilray Portugal”) has received a standard manufacturing license
and a Good Manufacturing Practices (GMP) certification, in accordance
with the European Medicines Agency’s (EMA) standards, for its Biocant
Park manufacturing facility in Cantanhede, Portugal. This license and
certification allow Tilray Portugal to manufacture and export
GMP-certified dried cannabis as an active substance for medicinal
products.
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Tilray has established sales and distribution arrangements to supply
medical cannabis through major pharmaceutical distribution channels
throughout Germany and the European Union (EU). This license and
certification further enhances Tilray’s capacity to serve international
markets such as Germany and other EU member states, as well as none-EU
jurisdictions that recognize EU GMP certification.
Tilray’s EU Campus in Portugal is a multi-faceted production facility
that includes indoor, outdoor and greenhouse cultivation sites; research
and quality control labs; as well as processing, packaging and
distribution sites for medical cannabis and cannabinoid-containing
medical products. To date, Tilray has invested approximately €20 million
in the facility, which totals nearly 250,000 square feet with additional
room to expand. The site also serves as a hub supporting Tilray’s
clinical research and product development efforts across Europe. The
Tilray EU Campus currently employs over 100 people, and that number is
expected to double by the end of 2019, with production ramping up and
multiple harvests anticipated in the coming months. An official
ribbon-cutting ceremony celebrating the inauguration of Tilray’s EU
Campus was hosted in April 2019.
“This licensing and certification marks a critical milestone for our
growth in Portugal and Europe. We’re proud to increase our international
export capacity and are looking forward to exporting dried cannabis as
active substances from our EU Campus to legal jurisdictions in the EU
and other international markets,” said Sascha Mielcarek, Managing
Director, Europe. “The next phase of GMP certification will allow us to
utilize the full capacity of our multi-faceted facility and continue to
serve more patients in-need.”
Tilray was the first medical cannabis producer to successfully import
medical cannabis products into the EU and the first licensed medical
cannabis producer in North America to obtain GMP certification in
accordance with EMA standards. Tilray expects the second phase of GMP
certification for its facility in Portugal to occur in the coming
months, which will allow the company to manufacture and export
GMP-certified finished medicinal products from Portugal to international
markets.
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 12
countries spanning 5 continents.
Cautionary note regarding 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 or forward-looking-information 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, including without limitation statements in respect to
Tilray’s intention to increase production, processing, cultivation or
R&D capacity or launch brands, products and novel form factors at any of
its facilities and Tilray’s expectations relating to servicing the
global cannabis market. 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 and Canadian securities regulators on May 15, 2019,
assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from those
expressed or implied in any forward-looking statements. Tilray does not
undertake and specifically declines any obligation to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005139/en/
Source: Tilray, Inc.
Media: Chrissy Roebuck, +1-833-206-8161, news@tilray.com
Investors:
Katie Turner, +1-646-277-1228, Katie.turner@icrinc.com
