The first batch of commercially-grown Australian medical cannabis flowers is set to hit Europe, after Australian Natural Therapeutics Group (ANTG) scored a $90 million-plus, nine-year deal with German company Cannamedical Pharma.
ANTG was founded in 2015 by former Corporate Travel Management chief operating officer Matt Cantelo, after he had seen first hand the health and socio-economic benefits of legalising medical cannabis in Denver, Colorado, while working in the region.
Mr Cantelo told The Australian Financial Review this deal was more than two years in the making – pre-pandemic travel restrictions – and represented a significant milestone not just for the company, but the local industry.
“We flew to Germany and got to know Cannamedical Pharma’s CEO David Henn and realised he had similar values. In the next six months, he flew to Australia and inspected our site before we finished construction and gave us advice on how to be Good Agricultural and Collection Practices (GACP) and Good Manufacturing Practices (GMP) approved.
“At the time there wasn’t anyone certified under that regulation in Australia and David helped us build this facility to full GACP European standards, as well as Australian standards, and that put us in good stead to sell dry flower to Germany.