Aurora Cannabis Enters Into Five-year Supply Deal With MedReleaf Australia

(RTTNews) - Canadian cannabis company Aurora Cannabis said it has entered into a strategic agreement with Australia-based medical cannabis company MedReleaf Australia.

The two companies signed a five-year supply agreement, under which MedReleaf will act as the exclusive supplier in Australia for Aurora's MedReleaf, CanniMed and Aurora brands.

Products covered by the companies' agreement will be EU-GMP certified and include dried flower, oils, soft gels, and future products employing new delivery mechanisms. The agreement does not require or include any capital investment by Aurora Cannabis.

"We are pleased to have established a long-term strategic relationship with MedReleaf to exclusively distribute the Aurora, CanniMed and MedReleaf brands in Australia. The team at MedReleaf have created an asset-light, sustainable growth platform in Australia to assist physicians, pharmacists and patients across the country in accessing the high-quality range of Aurora cannabis medicines," said Miguel Martin, CEO of Aurora Cannabis.

Aurora Cannabis' brand portfolio includes Aurora, Aurora Drift, San Rafael '71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD.

Aurora Cannabis hold a 10 percent ownership stake in MedReleaf Australia, a fully licenced, private company operating in the Australian medical cannabis sector since 2016. MedReleaf is one of the six founding members of the trade association Medicinal Cannabis Industry Australia or MCIA.

MedReleaf Australia has a strategic partnership with Aurora Cannabis and is licensed to cultivate and manufacture medical cannabis by the Federal Government's office of Drug Control or ODC.

MedReleaf and Aurora currently supply products to the Australian medical cannabis system. The companies expect their new agreement will advance that offering and extend availability of medical cannabis to patients.

In October 2020, Aurora Cannabis said it sold off its entire stake in Australian medical marijuana company Cann Group Ltd., noting that the decision was consistent with its strategic priorities. Cann Group is the first company in Australia ever to be licensed for research and cultivation of medical cannabis for human use.