PharmaCielo Ltd., a Canadian-based company that focuses on ethically processing all-natural, medicinal-grade cannabis oil extracts and related products, recently announced that Colombia’s national cultivar registry had granted it proprietary licenses for 20 unique THC and CBD strains.
The granting of these licenses is emblematic of Colombia’s shift in policy regarding cannabis and its regulation. Colombia decriminalized the possession of small amounts of cannabis around 20 years ago, and, in 2016, took steps to remove the cultivation and development of cannabis from drug barons and traffickers and to legalize and regulate cannabis for medical use. The country is looking for investment and innovation from companies, like PharmaCielo, to grow Colombia’s excellent strains of medical cannabis and export them across the world.
With the grant of the proprietary license for its strains, PharmaCielo can proceed with commercial production and meet domestic and international demand without obstacles.
“Approval of these strains strengthens and confirms PharmaCielo’s position as the leading producer in Colombia,” Federico Cock-Correa, President and CEO of PharmaCielo Colombia Holdings S.A.S., said in a press release from the company. “Among those approved is an historic and unique CBD-dominant strain approved for commercial registration and sourced from the Colombian landrace strains held within our fuente semillera [a licensed seed or germplasm bank authorized by the Colombian government], the first and only one of its kind registered in Colombia.”
The receipt of the proprietary license was the end result of a months-long process for PharmaCielo. The Colombian Institute of Agriculture requires that companies that wish to trade restricted seeds or plants must register those products with the institute; the regulatory process for registering strains can take many years from beginning to end, since regulators have to evaluate compounds on the journey from field to finished product.
The fact that PharmaCielo’s strains are registered with the national cultivar registry gives the company a tremendous advantage in the medical cannabis market.
In addition, with PharmaCielo’s registration of the only CBD strain that attains the level of purity required by World Health Organization (WHO) guidelines, the company has a strong opportunity to strengthen its brand in the country and in the international market.
“The registration of these ten strains of varying THC to CBD ratios, including the CBD-dominant strain, is a singular moment, as it is the first and only strain registered by the Colombian government for the legal production of CBD oils under a non-psychoactive licence,” Cock-Correa said in a statement in the press release. “As the owner of the leading seed bank held by any LP in Colombia, with an additional 10 commercial strains in the final stages of the registration process, these approvals evidence the value of our bank and the ability to meet current and future domestic and international market needs without challenge.”
Given the WHO’s recent decision to reclassify CBD as an acceptable and legal substance, PharmaCielo and other cannabis companies believe that demand for CBD will continue to rise throughout world markets.