Flora Growth has completed the construction of its new laboratory, specialising in the manufacturing of compound formulations utilising cannabis derivatives and traditional master formulas.
Located in Bogota, Colombia, Flora Lab 4 will become part of Flora’s group of laboratories including existing labs that produce cosmetics, phytotherapeutic products, dietary supplements, and cannabis extraction and transformation.
Chairman and CEO of Flora Growth, Luis Merchan, commented: “The completion of Flora Lab 4 is an important step in Flora Growth’s progress toward commercialising medicinal cannabis.
“This lab is built to produce prescription-grade medications and manufacture cannabis-based formulations.
“We look forward to giving access to prescribing doctors in Colombia and more importantly, to patients who stand to benefit from safe, high quality medicinal cannabis.”
The lab will offer design, development and manufacturing services of master formulas for third parties, making available to clients its knowledge of cannabis, its professional team and modern facilities to promote growth in the sector.
The company has stated that Flora Lab 4’s initial prescription formulations have been developed to support the treatment of specific ailments such as social anxiety and acne, and that the laboratory is now waiting for a regulatory inspection by INVIMA to complete certification.
Once this step is complete, the new formulations will be available to prescribing doctors in Colombia.
Flora Growth is focused on creating long-term growth within its Life Sciences division through utilising raw materials from its cannabis cultivation and processing operations in Colombia for applied research initiatives in medical cannabis around the world.
The company has said that the lab will serve as the Company’s hub of discovery, development, manufacturing, and commercialisation of phytocannabinoid-based prescription medicines and nutraceutical products to address a broad range of ailments and diseases.
Earlier this year, Flora Growth announced it would be establishing a presence in the UK and Europe, furthering its international growth strategy.