Cannovum AG starts European cannabis expansion

Cannovum took the first step and founded Cannovum Iberia LDA, a joint venture between Cannovum and Portuguese entrepreneurs from the cannabis industry.

Cannovum AG starts European cannabis expansion: Founding of Cannovum Iberia LDA


Berlin, 06th September 2021. Cannovum AG has started its European expansion with its subsidiary, Cannovum Health eG. The first step for this was founding Cannovum Iberia LDA, a joint venture between Cannovum and Portuguese entrepreneurs from the cannabis industry. This is another step in Cannovum's mission to provide medical cannabis to patients in Germany and Europe.

"We have reached the first milestone and successfully completed the founding process of Cannovum Iberia LDA. It's important for us to work with connoisseurs of the local market and to improve the care of Portuguese patients together, because every patient deserves the best therapy," says Pia Marten, CEO of Cannovum AG.

Cannovum Iberia will initially distribute cannabis pharmaceuticals to pharmacies in Portugal.

The Portuguese pharmaceutical cannabis market is in its early stages. It was not until March2021 that the first cannabis pharmaceutical, a flower variety, was approved for the Portuguese market. Pharmaceutical cannabis cultivation has been legal in Portugal since 2019, but only as an export product. Now, for the first time, Portuguese patients have access to cannabis-based medicines. The prescription guidelines are similar to German specifications. The German standards for medical cannabis regulations are recognized EU-wide, offering the opportunity to expand into Portugal as well as other European countries.

Cannovum Iberia LDA is headquartered in Venda do Pinheiro.


About Cannovum:

Cannovum AG is the first German listed medical cannabis company. The shares are traded on the Düsseldorf, Munich, Berlin, Hamburg and gettex stock exchanges. Through its subsidiary Cannovum Health eG, Cannovum is a fully licensed pharmaceutical wholesaler, importer and manufacturer of high-quality medical cannabis products based in Berlin. The company focuses on the import of high-quality cannabinoid products, medical-scientific education and all-encompassing distribution for simplified and facilitated access to cannabis-based therapies.

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Linda Rasch, Head of Communications, Cannovum AG, Phone +49 30 3982 163 62

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