As per the deal, HAPA will have first rights to distribute and/or manufacture Zelda’s clinically validated formulations into the rapidly growing German market.
Zelda’s managing director Dr Richard Hopkins said: “This partnership re-enforces the global breadth of Zelda’s relationships and shows our focus on commercialising our clinically validated formulations.
“This is also important because Germany is expected to become the world’s single largest market for medicinal cannabis.”
With a population of 83 million people, Germany is estimated to have the potential to become the world’s largest single medical cannabis market.
HAPA attracted to Zelda’s science-driven approach
HAPA’s managing director Ricardo Pendón said: “We are delighted to be entering this partnership with Zelda which is positioned as one of the world’s leading science-driven medicinal cannabis companies.
“Growth in doctor and patient use is enabled by clinically validated data and having access to Zelda’s pipeline of products is an important success factor for us.”
Zelda remains focused on rapid commercialisation of its products subject to success in clinical trials.
Germany is a very attractive market for Zelda with legislation passed in March 2017 allowing doctors to prescribe cannabis in certain circumstances.
Furthermore, recreational use and self-cultivation are prohibited in Germany.
Cannabis-related medicines potentially reimbursable
Under the German regulatory framework, the cost of cannabis-related medicines is potentially reimbursable for patients that register with their insurer.
The subsidised nature of the medicinal cannabis industry in Germany has catalysed growth in the number of registered patients that has far exceeded initial forecasts.