A joint venture will combine IPS Specials’ abilities as a licensed pharma importer with medical cannabis expertise of Grow Biotech

Reports confirm that IPS Specials and Grow Biotech will ink a joint venture agreement for creating a new firm that will provide the only full licensed market access proposition of medicinal cannabis in the U.K. and transform the access to medical cannabis in U.K. and Europe.

Seemingly, the joint venture would combine market capabilities of IPS Specials as a licensed importer of pharmaceuticals with unparalleled medical cannabis expertise of Grow Biotech.

Sources familiar with the matter informed that the new company will directly benefit from IPS’ infrastructure, profound knowledge and full set of licenses. These include Home Office Controlled Drugs Schedule 2, MHRA Specials Manufacturing, and GPhC Registered Pharmacy, besides the unique offerings of Grow Biotech such as cannabis technologists, expert scientists, business developers and ABPI regulated pharmaceutical reps.

The new company will focus on maximizing and supporting patient access. The directors are already involved in advanced discussions with a huge number of leading Licensed Producers (LP), ensuring health care professionals as well as patients have access to a wide selection of the prime cannabis based medicinal products.

New company’s formation is anticipated to be completed and named by the end of this month and in the coming weeks, the very first LP partnerships will also be announced. For UK patients it will become a major part of the solution, especially those who are well treated by cannabis-based medicines.

According to the CEO of Grow Biotech, Ben Langley, through this joint venture, the new company formed with IPS Specials would be focused on positive patient outcomes. With Grow’s deep cannabis knowledge and the track record of deploying and raising capital the company is well placed to facilitate the growth in the UK.

For those uninitiated, on 15 Feb 2019, Grow Biotech and IPS Specials worked jointly to successfully implement the first bulk import of medicinal cannabis from Europe to the UK, with three patients getting their cannabis medicines within 24 hours of the cannabis arriving in the UK.