Tilray, the only American-owned, federally licensed commercial producer of medical cannabis will be investing $24 million to build out a medical cannabis production operation in Portugal. This investment was in result to winning a federal license to import cannabis seeds and clones for cultivation.
The Next Steps:
Tilray’s Portugal operation will be their first operation outside of Canada and will be based in and around the Biocant Research Park in Cantanhede, about 24 miles north of Lisbon. The facility will focus on phases of development, beginning this month, starting with the construction of a 32,000 sq. ft. greenhouse. This greenhouse is expected to produce 10,000 kilograms of cannabis annually. They will not only grow but process and package medical cannabis on site and will begin distributing across the European Union. They also will build a 1,600 sq. ft. of processing facilities, a laboratory and genetics bank.
The History of Tilray:
Tilray was founded in October 2013 and is a portfolio company of Privateer Holdings. Tilray’s mission is dedicated to advancing the science, efficacy, and safety of medicinal cannabis for patients. The government of Canada granted Tilray with a federal license to produce, process, package and distribute medical cannabis. Currently, Tilray is supplying pharmaceutical-grade medical cannabis products including whole flower, oils, and capsules to patients, physicians, pharmacies, hospitals, governments and researchers around the world, with Canada being their primary market.
–Tilray was the first company to legally export medical cannabis products from North America to Australia, Brazil, Chile, European Union and New Zealand.
-Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016. GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes. GMP certification is allowing Tilray to create products for clinical research.
-Tilray currently supplies pharmaceutical-grade medical cannabis products for three different clinical trials in partnership with hospitals and universities in Canada and Australia.
To learn more about Tilray, check out https://www.tilray.ca/