The merger combines Canify AS’s expertise in the production of pharna-grade medical cannabis with the market position of Bavaria Weed GmbH, as one of the first German pharmaceutical companies with a license for unlimited production, importation, and packaging of cannabis raw materials. Canify AS is currently building a pharmaceutical cannabis cultivation facility matching the high regulatory requirements making the Danish company a licensed producer and distributor of medical cannabis products. The companies did not publish any financial details about the deal neither their share in the merged company.
The ambition of Canify AG is to go public next year and to become a European market leader in the supply of high-quality medical products. A private placement before the IPO is scheduled to take place this summer. Market release of Canify’s medical cannabis is expected to ttake place in mid-July after the building of a sales team is completed that will be communicating scientifically to physicians. The new company will also have the clinical knowledge to conduct registry studies across all types of marketed products to enable benchmarking instead of evaluating individual products in randomised trials.
“Canify AG benefits from the expertise of two major cannabis companies. Thus, the merger also offers an enormous change for patient care in Germany. Because doctors and patients will get even better access to cannabis in pharmaceutical quality,” said Andreas Hummer, CEO of Canify AG. Canify AS provides cannabinoid-based medical solutions for patients and sets standards in terms of quality, production capacity, delivery time and clinical services. Bavaria Weed GmbH has an in-house production, for which the company purchases cannabis agricultural raw materials from approved producers in large quantities, store them almost indefinitely and package them as active ingredients and/or medicinal products and release them on the European market under its own or third-party labels.
