Your latest cannabis business info from Europe

Your latest cannabis business info from Europe

2023-05-23

Medical cannabis in Malta: Materia Ventures acquired

Jamaican Medical Cannabis Corp (JMCC) has made an acquisition of Materia Ventures in Malta.

Materia Ventures and JMCC

Materia is a European company with a medical cannabis production facility that is EU GMP certified, among other assets. The acquisition includes Materia’s 32,000 square foot medical cannabis processing and production facilities in Malta. However, they have not yet declared public any sale price. The newly acquired assets, which will now be known as JMCC Life Sciences, Europe, will complement JMCC’s current Jersey-based warehouse and distribution center, JMCC European Distribution Ltd.

Despite the huge potential of the recreational industry, JMCC is still committed to keeping its promise to patients and medical professionals around the world. The Production of Cannabis for Medical and Research Purposes Act in Malta sets the regulatory framework for cannabis cultivation. Malta has legalised cannabis for recreational use, which may help in further research and developments in the facility. Additionally, the GMP certification guarantees that the processing facility complies with the requirements for producing medicines.

Current medical cannabis market – comments

JMCC’s CEO is Diane Scott. She made a point of highlighting their dedication to financing research and development. They aspire to create medical cannabis products that are safe and effective for users and prescribers and that are pharma-like and scientifically validated.

The European Medicines Agency (EMA) plays an essential part in verifying compliance with GMP standards. The EMA also regularly harmonizes activities taken at the EU level. JMCC is in a good position to take advantage of the expanding European medicinal cannabis industry. The purchase of a GMP-certified facility in Malta will help to achieve it. The company wants to create premium medical cannabis products that adhere to strict regulatory standards. This action improves JMCC’s visibility in the global cannabis market and places them in a position to offer patients secure and efficient medical cannabis treatments.

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