As part of its global strategy, New Zealand medicinal cannabis company Ora Pharm has launched in Australia this week. Ora Pharm is the first New Zealand company in the medicinal cannabis space to export a branded product to an international market. Australia is the first export market entry by Ora Pharm and will build strong revenue streams through the sale of both dried flower and branded finished products.
With Australia experiencing exponentially exploding demand that is projected to account for 99 cents in every dollar of the USD $18.6bn (~€16.71) Oceania industrial hemp market in 2028, Ora Pharm is set to experience rapid growth.
Ora Pharm has developed patient-ready tincture formulations which are being manufactured and distributed by Canngea, one of Australia’s leading medical cannabis manufacturing and distribution companies, under strict GMP processes. Ora Pharm is also developing unique cannabis strains exclusively for Canngea.
Ora Pharm’s patient-ready oral solutions for both the Australian and New Zealand markets will be distributed via Canngea and ANSPEC which is one of the largest distributors of medicinal cannabis in Australia and has approximately 4,500 pharmacies on their customer base. The Ora Pharm branded products will also be listed on Catalyst by honahlee, a medicinal cannabis education platform and cannabis medicines database for healthcare professionals. Listing products on Catalyst gives health professionals greater transparency into the product details which aligns with Ora Pharm's mission of making informed healthcare decisions.
Ora Pharm Founder and CEO Zoe Reece says this is the beginning of the roll out of an exciting global strategy to offer unique, high value, pharmaceutical grade medicinal cannabis products to meet rapidly growing international and domestic demand. “We’ve achieved everything we set out to do with our seed funding and more. We’re now entering an important growth phase that will see Ora Pharm expand our operations in New Zealand, release our first product range, launch into global markets, and commence research and development,” says Ora Pharm Founder and CEO, Zoe Reece.
In a market with very high regulatory barriers to entry and competitors beginning to operate, Ora Pharm stands out as the only company with significant medicinal cannabis market experience and a strong US market platform to drive growth. Zoe Reece (CEO and Founder) and Stuart Wilcox (Executive Chairman and Head of International Business Development) bring a wealth of experience, having previously held senior executive positions at Curaleaf, one of the largest cannabis corporations in North America.
Ora Pharm is currently undertaking a Series A funding round via the Syndex exchange, an online platform where individuals can invest in proportionally-owned assets. "This is a great opportunity to invest in a leading medicinal cannabis company in a rapidly-growing sunrise industry and at an attractive early-stage valuation."
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