The Canadian-Colombian medical cannabis extracts producer PharmaCielo Ltd (TSXV: PCLO) (OTCQX: PCLOF) is doubling down on the Brazilian cannabis market.
The company announced this week that it completed initial shipments to a pharmaceutical company and a phyto-therapeutics company. The names of the companies were not disclosed.
PharmaCielo said the customers intend to integrate its Active Pharmaceutical Ingredients — APIs — into supply chains for use in current and upcoming products.
The pre-commercial shipments to Latin America’s most populated country were only completed after one of the customers conducted a thorough audit process to ensure PharmaCielo’s compliance with the local GMP market regulations.
CEO Henning von Koss told Benzinga, “We are very pleased to be able to initiate these relationships and deliver first shipments of our APIs to a couple of well-established Brazilian companies. These deliveries and the successful Brazilian GMP audit and qualification being conducted by one of the clients speak volumes about the quality of both our processes and products.
“We believe this is the herald of large and more sophisticated end-product manufacturers coming to market and looking to integrate PharmaCielo as a Cannabinoid-based API supplier into their supply chains,” he concluded.
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