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The Hydroponics Company forms alliance with major European supplier

The companies intend to develop and produce CBD-based and THC-based products.
cog that has the word collaboration on it
The two most common cannabinoids are tetrahydrocannabinol (THC) and cannabidiol (CBD)

The Hydroponics Company Ltd (ASX:THC) has signed a binding letter of intent with Endoca BV, one of Europe’s most respected suppliers of GMP certified medicinal cannabis.

The overall objective is for development and production of CBD-based and THC-based products produced under pharmaceutical GMP from European and Australian facilities, and their supply to multiple international markets.

THC and Endoca intend to formalise their cooperation following their review and planning period over the next few months in the form of a binding agreement.

READ: The Hydroponics Company makes progress in Canada following legalisation of recreational cannabis

THC’s chairman Steven Xu said: “Our alliance with Endoca, a trusted international medicinal cannabis brand, has continued to flourish as THC’s manufacturing and growing capabilities expand domestically.

“We look forward to accelerating THC’s development through our alliance and building a truly international presence together with Endoca.”

Endoca’s CEO Henry Vincenty also said: “THC’s development in Australia has been rapid and well-targeted, particularly with its full-scale manufacturing capabilities and pharmaceutical development.

“We see great value in this alliance and are very excited to take the next steps together”.

Builds on prior relationship with Endoca

THC and Endoca are already partners, having revealed a distribution agreement in November 2017.

THC imported Endoca’s unique CBD+CBDa product and other CBD products in June 2018 for access by Australian patients under the Special Access Schemes or through authorised prescribers.

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