EXMceuticals Portugal has already obtained the authorization for cannabis research and development from INFARMED, the Portuguese National Authority of Medicines and Health Products, in November 2019. This crucial scientific license, currently unique in Portugal, allowed EXMceuticals to take a leap forward in its European operations by being able to import, research and refine cannabinoids and cannabis-based ingredients inside the European Union, for R&D purposes. EXMceuticals's fully operational R&D laboratory in Portugal will now develop cannabis-based formulations for products and operate as a pilot-scale refinery for the transformation of cannabis-based ingredients.
EXM now has a massive opportunity and a clear path to add a commercial and industrial license for cannabis to our existing R&D license. The company has already secured an existing industrial facility close to Lisbon, which is perfect for the purpose of creating a substantial extraction, purification and refining operation.
The priority for the Company in 1H 2020 will be the fitting-out and equipping of this facility to create a pharmaceutical-grade factory that will be designed to EU-GMP standards. Once finished and commercially licensed this facility will permit the supply and export of extremely pure cannabis ingredients across the EU and beyond, all under the aegis of the Portuguese medicines regulator (INFARMED).
EXM's existing R&D center in Lisbon, Portugal inside TecLabs, a well-recognized start-up incubator from Faculdade de Ciências, Universidade de Lisboa, is fully equipped and staffed by experienced scientists (microbiologists, biochemists and geneticists). At the moment, the lab is submitting 2 main research projects focusing on cannabis-based therapeutics and cannabinoids extraction-purification processes.
These projects are supported by Portugal 2020, a Framework Program between Portugal and the European Commission that brings together five European Structural and Investment Funds. EXM’s R&D staff are also working with several companies from several sectors ranging from wellness to Pharmaceutical, with a clear goal to create formulations for products to go to market.