DE: Demecan has acquired Wayland's core European asset

DEMECAN has acquired the core European asset of the former Canadian cannabis producer, Wayland – a 30,000 sqm production facility near Dresden. The purchase agreement was signed in June 2020 and became legally binding last week. It was agreed to maintain silence about the purchase price.

"DEMECAN's mission is the nationwide supply of high-quality medicinal cannabis for the benefit of patients in Germany," the team with the company explains. "DEMECAN is the only German company that is mandated to cultivate medicinal cannabis nationally on behalf of the Federal Institute for Drugs and Medical Devices (BfArM). With the purchase of the asset, the company now owns the largest indoor cannabis production facility in Europe."

"Using modern and automated cultivation methods, the cannabis plants are cultivated and processed in production rooms, which are specially designed and secured for narcotics," they further explain. "The plants grow under artificial lighting in accordance with pharmaceutical product standards. Computer-controlled growing conditions provide a consistent flower quality, ensuring that quality fluctuations are excluded."

Dr. Adrian Fischer, Managing Director and co-founder of DEMECAN explains: "We are delighted about this acquisition. The production facility provides the necessary space for DEMECAN’s future growth. Not only will it enable us to produce considerable quantities of cannabis flowers quickly and efficiently, and thus supply the entire German market, but also process cannabis flower and produce other form factors such as cannabis extracts. Furthermore, we will conduct research into the use and effects of medical cannabis. This investment truly is the foundation for our path to becoming the leading manufacturer of medical cannabis products in Germany and Europe.”

"A domestic production of medical cannabis is urgently needed to guarantee a nationwide supply of medical cannabis in Germany and simultaneously become more independent from imports. This is particularly true at a time when international trade has become unpredictable due to the COVID-19 pandemic. In this context, the purchase of the production facility by DEMECAN is also an important step to further strengthen the medical cannabis industry in Germany and develop the enormous potential of medical cannabis as a natural therapy."