Can Cannabis Treat Severe Forms Of Epilepsy? New Medicine Sparks Hope As Colombia's Weed Industry Goes Global

Clever Leaves Holdings Inc. CLVR CLVRW, a prominent global medical cannabis company announced a strategic partnership with the renowned Dutch seed bank, Paradise Seeds to develop and register high-performance cannabis cultivars in Colombia.

Through this partnership, Clever Leaves will have an exclusive license to cultivate selected genetics, while Paradise Seeds will make other cultivars available to third parties across Colombia and Latin America.

Andrés Fajardo, CEO of Clever Leaves, said the partnership will expand the company's global footprint and strengthen its portfolio with Paradise's award-winning strains.

Luc Krol, founder and CEO of Paradise Seeds also expressed enthusiasm for the collaboration, citing Colombia's favorable conditions for medical cannabis production and the opportunity to advance their strategy of making Paradise varieties accessible globally.

Avicanna's Milestone With Trunerox

Toronto-based biopharmaceutical company Avicanna Inc. AVCN AVCNF has achieved a significant milestone with the first indication-specific drug registration for Trunerox by INVIMA, Colombia's health authority.

This approval enables Avicanna to manufacture and commercialize Trunerox in Colombia for treating seizures associated with Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS). CEO Aras Azadian emphasized the approval as a major step toward serving patients with unmet medical needs.

Legislative Setbacks In Cannabis Regulation

The Colombian Congress shelved a bill aimed at regulating adult use and commercialization of cannabis, reflecting deep divisions within the legislative body. Despite support from some lawmakers who argue for regulated legalization to combat drug trafficking and protect youth, the proposition to archive the project received sufficient backing, led by opposition figures who view the measure as conceding to narcotrafficking interests.

President Gustavo Petro criticized the Senate's decision to stop the legalization measure, arguing it benefits the illegal drug trade and violence.

Impact on Cannabis Companies

The developments in Colombia's cannabis industry and regulatory landscape have implications for companies operating in the country.

Clever Leaves Holdings Inc. CLVR CLVRW, PharmaCielo Ltd PCLOF and Khiron Life Sciences Corp KHRNF are closely monitoring these changes, given their potential impact the cultivation, production and commercialization of cannabis products in Colombia and beyond.

As the debate over cannabis regulation continues, industry experts keep an eye out for opportunities and challenges in Colombia's evolving market, with international companies poised to play significant roles in shaping the future of medicinal and potentially recreational cannabis in the region.

Benzinga Cannabis Conferences are coming to Los Angeles. Join the Benzinga Cannabis Market Spotlight: California, and unlock the future of cannabis at the premier networking event in Culver City on February 22. Connect with top industry leaders, gain insider insights into the investment landscape, and shape the evolving markets in California and beyond. Don’t miss this chance to be at the forefront of the cannabis industry’s growth and innovation! Join now

Photo: AI-Generated Image.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechCannabisNewsPenny StocksHealth CareMarketsGeneralAndres FajardoAras AzadianAvicanna Inc.Clever Leaves Holdings Inc.Colombia CannabisColombia Cannabis LegalizationColombia President Gustavo PetroDravet SyndromeLennox-Gastaut syndromeLuc KrolParadise Seeds
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Top Cannabis Event In New Jersey

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!


Loading...