EXM’s operational, equipped, licensed and staffed cannabis Laboratory was recently awarded a COVID-19 R&D-focused grant by the European Union and the Portuguese Government, detailing a landmark event for the Company. A Consortium led by EXMceuticals Portugal Lda, operating under the Project name "BioBlockCOVID" and consisting of EXMceuticals Portugal Lda, Cosmetek Lda, and the Universiade de Coimbra has been awarded EUR 302.000 by the European Regional Development Fund and the Portuguese Government to study further and develop disinfectants to combat SARScoV-2, the virus that causes COVID-19. The BioBlockCOVID project aims to create functional, natural and innovative biocide formulations that will specifically target and attack the molecules that make up COVID-19. The research will focus on the virucidal action of naturally occurring bioactive compounds from the cannabis plant.
Portugal is the heart of EXM. It is where most of the activities are taking place from advanced R&D, collaboration within the industry with its strategic partners, the construction of a refining facility which will comply with the European Union's GMP Standards, formulation, testing and a distribution centre.
The Portugal refinery hub is designed for purifying the extracts produced by GMP certified growers and will serve as the gateway to distribute manufactured materials in Europe and North America.
EXMceuticals Portugal has obtained the authorization for cannabis research and development from INFARMED, the Portuguese National Authority of Medicines and Health Products, in November 2019. This license allows EXM to take a huge step forward in its European operations by being able to import, research and refine cannabinoids and cannabis-based ingredients.