Iuvo Therapeutics Ltd Announces Initial Sales and Deliveries of Exclusive Full Spectrum Cannabinoid Extracts
- Orders mark the first distribution from the largest ever import of pharmaceutical grade extracts derived from non-irradiated GMP flower material in Germany.
- As part of its commitment to the best patient outcomes, Iuvo will host the first in a series of training courses for medical practitioners to increase understanding of cannabinoid-based pharmaceuticals and their therapeutic value.
POTSDAM, Germany, June 23, 2021 /CNW/ - Iuvo Therapeutics Ltd. ("Iuvo") is pleased to announce that it has completed initial sales and deliveries of its exclusive, full spectrum cannabis extracts. The greater than expected demand, stemming from the largest ever import of pharmaceutical grade extracts derived from non-irradiated GMP flower material, highlights Iuvo's focus on providing first-in-class order execution to Germany's leading cannabis dispensing, wholesalers, and pharmacies.
Iuvo expects its offerings to continue to be in high demand throughout Q3 of 2021 as patients are quickly changing from flower to extract, as the preferred delivery mechanism for their medical cannabis. With nearly double the number of prescriptions in Q1 of 2021 compared to Q1 of 2020, the full-spectrum extract market has shown robust growth and patient demand.1
With a firm commitment to ensure sufficient and seamless supply of its offerings, Iuvo plans regularly scheduled imports throughout the balance of the year from its manufacturing partner CANN Group, enabling Iuvo to meet the evolving demands of German medical practitioners and their patients.
"Importing and market-releasing over 20,000 units of full-spectrum extracts has significantly strengthened Iuvo's ability to ensure ongoing patient access to a reliable high-quality source of cannabinoid extracts. says Iuvo's Managing Director, Daniel Seidl. "In synergy we begin our medical education program around the unique therapeutic potential of full-spectrum cannabis extracts derived from non-irradiated GMP starter material."
A training course for practitioners, held by Prof. Dr. Karst, Head of Pain Center at Hannover Medical School, is scheduled for the 23rd of June 2021 and has garnered remarkable interest from German practitioners. This educational event represents the first episode of a series to increase awareness and educate scientifically about cannabinoid-based pharmaceuticals.
"As the market preferences shift towards prescription of extract-based cannabinoid medication, there is a need for clarity around its pharmacokinetics, dosage patterns and side effect profiles," says Seidl. "We believe that the potential of extract therapy will be enabled by the sharing of practitioners' experience and a focus on clinical data. Providing a contribution to that process is a logical next step for us."
In Q3 and Q4 2021, Iuvo will focus on pharmaceutical wholesale and the education of practitioners, while capitalizing on its established supply chain with CANN Group through additional imports.
"We look forward to this next phase of the commercialization of the Iuvo product range. We have seen medical education play an important role in Australia in assisting medical practitioners understand the therapeutic role medicinal cannabis can play in treating a number of conditions and we will continue to support Iuvo as this activity continues to rollout," said CANN Group COO Shane Duncan.
About Iuvo Therapeutics Inc.
Iuvo Therapeutics Inc., established in 2017, is an independent importer and wholesaler of medical products. Certified to the highest standards by the Pharmaceutical Agency of NRW Germany, Iuvo holds an EU-GMP import authorization, a GDP pharmaceutical wholesale license and ancillary licenses for respective alternative medicines.
SOURCE Iuvo Therapeutics Ltd.
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