PharmaCielo Achieves Colombian GMP Certification For Phytotherapeutics

PharmaCielo Ltd. PCLO PCLOF said Tuesday that it has received Colombian GMP Certification for Phytotherapeutics manufactured with its extracts and proprietary cultivars from the Colombian National Food and Drug Surveillance Institute.

Bill Petron, CEO of the Toronto-based parent company of PharmaCielo Colombia Holdings SAS, said the "achievement of this milestone confirms that the company's processes and products are world-class."

The next step is the achievement of EU-GMP certification, Petron explained.

"We have already been producing to EU-GMP standards since early 2021, are launching an independent audit with a potential customer in the coming weeks, and are on track to receive formal certification six months thereafter."

PharmaCielo's facility in Rionegro is Colombia's largest cannabis processing center, with processing capacities of 360 tons of biomass on a yearly basis.

Last month, the Canadian-Colombian medical cannabis extracts producer inked a sales agreement and already completed an initial commercial sale of CBD Isolate to an undisclosed pharmaceutical company, one of the first to be fully licensed in Brazil by the Health Regulatory Agency (ANVISA) to produce cannabinoid-based products.

Price Action

PharmaCielo's shares traded 1.82% lower at $0.9842 per share at the time of writing Tuesday.

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