(Globe Newswire) Vancouver – HYTN Innovations Inc., a pharmaceutical company specializing in the development, formulation, and manufacturing of psychoactive and psychotropic compounds, including cannabinoids and psilocybin, is proud to announce the establishment of international manufacturing and pricing agreements with 4C LABS, a leading importer and distributor of cannabis-based pharmaceuticals in the United Kingdom. These agreements aim to enable the production of cannabis products in bulk and final packaged forms for distribution in the UK and other global markets. Through this partnership HYTN will act as the manufacturer, packager and exporter of pharmaceutical quality cannabis goods that 4C LABS may purchase and subsequently import and distribute into the UK market.
HYTN’s Good Manufacturing Practice (GMP) license, granted by Health Canada, and its PIC/S certification from Australia’s Therapeutic Goods Administration (TGA), are key credentials that enable partnerships with internationally accredited distributors, these credentials, combined with 4C LABS’ expertise and licences in cannabis operations in the UK, create a robust foundation for the business collaboration with 4C Labs. Under the Agreements, HYTN intends to manufacture new products for 4C LABS while also serving as a co-manufacturing center for the production of existing products currently produced at various locations, with the aim of enhancing operational efficiency for both companies. The agreements do not provide for a fixed, mandatory or minimum order by 4C LABS.
“This partnership validates the ongoing regulatory work HYTN has been undertaking,” stated Elliot McKerr, CEO of HYTN. Adding “By integrating 4C Labs’ deep understanding of cannabisprocurement and consumer demand with our advanced GMP-certified manufacturing processes, we are well-positioned to deliver high quality cannabis products to international markets. This collaboration not only highlights our commitment to expanding the company’s global presence but also marks a significant milestone in HYTN’s advancement into non-sterile pharmaceutical production.”
Greg Dobbin, CEO of 4C LABS, added, “Partnering with HYTN provides us with a significant competitive advantage. HYTN’s proximity to high quality Canadian cannabis flower, coupled with their rigorous adherence to GMP standards and innovative manufacturing platform, will allow us to work towards delivering top quality products and competitive pricing to our customers.”
While the initial focus of this partnership is to supply products to the UK market, both companies recognize substantial growth opportunities in Germany and Australia. The German medical cannabis market is rapidly emerging as one of Europe’s largest, with an estimated value of CAD $2 billion1, while the Australian market, valued at over AUD $200 million in 20222, continues to expand. As these markets require GMP-certified production and distribution, both firms have identified this partnership as providing the necessary framework to support global expansion.
