International Cannabis Gains Early Mover Advantage Within India
May 16th, 2019
App, Exclusive, Top Story, Uncategorized
ICC International Cannabis Corp. (CSE: WRLD.U, FWB: 8K51, OTC: WLDCF) on May 10 announced the further expansion of its global footprint through a strategic investment into Indus Cannabis Company Corporation, a privately-owned entity pursuing cannabinoid commercialization within the Republic of India.
While the cultivation of industrial hemp is already legal in India, THC-rich cannabis remains illegal, although the use and sale of seeds and leaves are permitted throughout much of the country, as is the preparation and sale of bhang, a traditional edible preparation of cannabis originating on the Indian subcontinent. Nonetheless, Delhi and Mumbai are rated among the top ten cities for cannabis consumption, and politicians are increasingly pushing to reform regulations and join the growing trend toward full legalization.
India conducted its first study into medical cannabis last year, which found it to be effective in alleviating pain and symptoms in cancer patients, and beneficial in the treatment of a host of other common ailments.
“It is estimated that over 600 million Indians experience symptoms derived from indications which medical cannabis may treat, remedy or ultimately alleviate,” said David Shpilt, ICC Chief Executive Officer. “The company’s proposed Indian commercial rights and supply agreements will enable ICC to realize sustainable cash flows, all while advancing clinical cannabinoid efficacy and expediting clinical pharmaceutical pathway for phytopharmaceutical products”.
IndusCann has entered into a three-year exclusive research and development partnership agreement with the Indian Institute of Integrative Medicine, a premier national research institute under the Council of Scientific & Industrial Research of India, dedicated to the discovery of pharmaceuticals derived from natural products such as cannabis. CSIR hosted a conference last year titled “Cannabis R&D in India: A Scientific, Medical and Legal Perspective”, where it announced the development of three cannabis-based medicines to treat cancer, epilepsy, and sickle-cell anaemia.
In collaboration with the IIIM and CSIR, IndusCann has been mandated with the detection and subsequent commercialization of cannabinoid-derived pharmaceutical compounds for the Indian marketplace, establishing clinical cannabinoid efficacy and expediting clinical pharmaceutical pathways for phytopharmaceutical products, and administering both human and animal cannabinoid-centric clinical trials.
It will oversee comprehensive mapping and cataloging campaigns of over 500 unique landrace cannabis genotypes and phenotypes, specifically sourced from the widely-celebrated Hindu Kush and Himalayan regions, and centralize cannabinoid intellectual property and product development through complementary R&D partnerships with the All India Institutes of Medical Sciences, as well as leading Indian hospitals.
IndusCann will also collaborate with Indian state and federal agencies to devise sustainable cannabis regulations governing commercial production, import & export, and distribution, and develop best-practice standard operating procedures to support India’s highly-anticipated commercial cannabis cultivation regulations.
Vijendra Gairola, an economic development veteran as a Chief Representative for India, and Co-Founder of IndusCann, said, “With the completion of this transaction, IndusCann becomes firmly anchored to achieving all of its research and commercial cultivation objectives.”
Gateway to EU, Asia-Pacific Region
IndusCann anticipates an Indian cannabis import/export license to enable the export of EU GMP-certified medical cannabis to the European Union and the Asia Pacific region as well as the importation of select high-value strains and tissue culture from preeminent European seed banks and Tier-1 Canadian Licensed Producers, and is currently working to design and construct the first purpose-built GMP-compliant indoor grow, processing, and packaging facility.
Under the agreement, ICC will supply IndusCann with up to 30,000,000 grams of premium cannabis flower as well as bulk cannabis resin, bulk CBD isolate, and bulk CBD distillate for initial R&D initiatives and eventual commercial applications, and will act as the company’s European distributor. ICC will be granted co-ownership of data derived from the company’s cannabinoid clinical trials with product supplied by ICC and all cannabis product formulations developed under the IndusCann corporate umbrella.
“International Cannabis’ commitments will support IndusCann’s unique ability to conduct large-scale research for both human and veterinary use,” added Gairola. “Their global supply chain of GMP-compliant medical cannabis and deep experienced team of subject matter experts accelerate IndusCann on its path to being a long-term supplier to India’s future medical marketplace.”
In addition to ICC’s proposed 30,000 kilogram, three-year supply agreement with Wayland Group, the company’s internal forecasts indicate that upon completion of its ongoing production build outs in Denmark, Colombia and Lesotho, ICC will be equipped with the necessary cultivation capabilities to satisfy the IndusCann supply agreement.
Shpilt said, “This strategic deployment of capital affords ICC preeminent exposure to one of the world’s largest domestic cannabis markets. Together, we are positioned to capitalize on a first mover advantage within India’s vast addressable patient population. In addition to its R&D agreement and anticipated import/export license, the company is armed with deep-seated relationships within India’s proliferating generic pharmaceutical manufacturing industry, which is one of the largest in the world. India’s established generic pharmaceutical manufacturing infrastructure will position the country as the transcendent jurisdiction for cannabis finishing/processing, as well as eventual product formulations”.
International Cannabis Corp. already boasts an established presence on five continents, 110 clients representing over 3500 pharmacies in 16 countries, five licenses for cultivation on three continents, and access to over 850 acres of premium hemp crops, and expanding into India furthers its goal of establishing a truly global cannabis ecosystem.
For more information and developments, keep watching this page, and visit https://intlcannabiscorp.com/.
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