Khiron Life Sciences Corp., the leader in the therapeutic cannabis sector with main operations in Latin America, announced today its attainment of permission to commercially market psychoactive, high-THC cannabis in both domestic market and export purposes from Colombian authorities. With this authorization, it has become the first and till now the only company to get this authorization, marking an important milestone in the journey of Khiron’s specified timeline to make medical cannabis available in the market. This authorization is a result of the commercial quotas assigned to the Company in 2019 by the Colombian Technical Quotas Group, permitting Khiron to grow and market a maximum of 560 kg of high-THC cannabis.
Khiron Vice-President of Regulatory Affairs, Juan Diego Alvarez, remarked that
Today’s receipt of cultivation quotas from the TQG is undoubtedly a game-changer. With these quotas, we become the first and only cannabis company in Colombia with the ability to commercialize high- and low-THC whole plant extract, both nationally and abroad. More importantly, however, it paves the way for our patients to receive high-THC medical cannabis prescriptions that treat key indications and improve their quality of life. That, ultimately, is our first priority.
Colombia has defined strict laws for the cultivation of “psychoactive cannabis”—popularly known as THC, which is a minimum of 1%. The process of authorization involves a rigorous procedure. First, the companies have to register the strains with the Colombian Agricultural Institute (ICA); then, they have to undergo tests for the yield and its stability successfully. Lastly, companies have to substantiate the legal demand in the market for their products to obtain commercial quotas. Khiron, on successfully undergoing these procedures, got two important quotas for commercially cultivating and fabricating on an industrial level.
Khiron Life Sciences Corp. deals with medical cannabis with most of its functions in Latin America and now licensed to work in Colombia. It has got a license to cultivate, fabricate, distribute in the domestic market, and export to international market tetrahydrocannabinol (THC) and cannabidiol (CBD) from the Colombian regulatory body. Currently, it has started marketing the first fully approved range of CBD cosmetic products in Colombia. It is presently on the endeavor to meet all requirements to get a license for the production and sale of cannabis-derived products.