Khiron Life Sciences Corp. to Begin Medicinal Marijuana Cultivation in Colombia After Receiving Quota Allocation

Canada-based medical marijuana company Khiron Life Sciences Corp., through its Colombian subsidiary, has begun cultivating cannabis in the country after receiving authorization from the government.

Through the country’s formal “quota allocation” process, which is based upon guidance by the International Narcotics Control Board (INCB) and ultimately allotted by the government in Bogotá in accordance with a company’s production potential, Khiron Colombia SAS has now acquired the regulatory approval necessary to start growing what it characterized as “a variety of medical grade cannabis strains,” including tetrahydrocannabinol (THC) and cannabidiol (CBD) strains.

READ MORE: Khiron Life Sciences Transfers 100,000 Shares to Settle Dispute with PharmaCielo

These strains have been chosen specifically to target “patients identified as having unmet medical needs within the Colombian market of 50 million people and the Latin American market of 620 million people,” according to a statement from Khiron Life Sciences.

According to Khiron, the government approved the company’s full initial quota request. The company says that it plans to increase the volume of its request in its proposal to the government next year.

“The granting of quotas for cultivation is part of the ongoing involvement of the government of Colombia to ensure an orderly and controlled market for medical cannabis,” said Alvaro Torres, president and CEO of Khiron Life Sciences Corp. “I would like to thank the government for its continued support.”

(Photo credit: eujava / Pixabay)