SOMAÍ Pharmaceuticals Receives EU-GMP Certification and Raises €5 million

SOMAÍ Pharmaceuticals Unipessoal LDA, the largest European pharmaceutical cannabis product manufacturer, just announced that it has received authorization for its facility located in Lisbon, Portugal from the Portuguese Health Authority INFRAMED, according to a press release.

This authorization permits SOMAÍ to manufacture, import and export medicinal cannabis products to numerous global markets and represents a significant step for the company towards revenue generation. SOMAÍ has also successfully raised €5 million of new capital to fund its ambitious growth plans.

Credit: SOMAÍ

SOMAÍ Gets the Largest Manufacturing Facility in Europe

This INFRAMED authorization awards SOMAÍ a GMP Certificate Part I and Part II, enabling it to execute its plan to own distribution channels in Australia and Germany and to establish distribution partnerships in another eight countries while developing a comprehensive brand of medical cannabis products. SOMAÍ’s goal is to be a singular brand that services all doctors’ and patients’ needs through multiple delivery systems and novel formulations.

“Having the largest and most fully equipped EU-GMP part I and II manufacturing facility in all Europe is a testament of the SOMAÍ teams hard work,” Michael Sassano, SOMAÍ’s Founder and CEO, said. “We were able to build, validate and certify pharmaceutical medicines in under two years and are now launching full lines of products for the global markets. This is not only a win for our team but a guide to future generation companies that you must get your projects into the markets as fast as possible and never compromise on quality standards plus big dreams.”

Anton Nakhodkin, Board Member and Managing Director, stated in the press release: “Our focus pivots from development to full commercialization and growth by servicing all the current major markets and preparing smaller and new markets to open to medical cannabis. Management hit and exceeded all targets and unlocked another €5 million euros of new investment to build out an international sales and distribution force.”

SOMAÍ remains extremely confident that the market for finished dosage form medical cannabis products has enormous potential. With the largest suite of products, SOMAÍ is invested in that future, and the company is already witnessing global demand and interest in its products from both legacy and new markets.