Clever Leaves Strengthens Its Presence in the U.S. Through Partnership With Biom Therapeutics

BOCA RATON, Fla. and SARASOTA, Fla. –  Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW), a multinational operator and licensed producer of pharmaceutical-grade cannabinoids today announced a two-year supply agreement with American, clinical-stage biopharmaceutical company, Biom Therapeutics to provide high quality CBD isolate.

Clever Leaves has already provided Biom Therapeutics with the first shipment of EU GMP compliant CBD isolate to be manufactured by Biom into formulations for use in studies and clinical trials for rare neurological and developmental diseases.

“We are grateful for the opportunity to deliver high-quality, pharmaceutical-grade, CBD products to help advance medical cannabis research in the United States through our new partnership with Biom Therapeutics,” said CEO of Clever Leaves, Andres Fajardo. “The United States market is a key focus for Clever Leaves in 2022 and partnering with strong biopharmaceutical companies like Biom Therapeutics will help us further grow our pharmaceutical presence and establish our superior standard of product quality in the United States.”

Since its beginnings Clever Leaves has had the mission to work to supply medicinal grade products to help patients around the world. To date the company has multiple international certifications, including European Union Good Manufacturing Practices (EU GMP), that allow it to be a reliable supplier to its customers, either in the field of research or providing its portfolio of products to different types of customers in more than 15 countries around the world.

“We believe medical cannabis will be in mainstream medicine for chronic illness in the coming years, and we wanted to reinforce our partnership with industry leaders and leading researchers in this emerging field,” said Dr. Bobban Subhadra, CEO of Biom Therapeutics. “BIO017 is a novel drug formulation for rare epilepsies that require high purity cannabidiol. Clever Leaves has the state-of-the-art cGMP facilities to make high-purity USP grade Cannabidiol; we are quite excited to partner with Clever leaves to procure our drug substance for our BIO017 formulation,” he added.

Biom has already shown the clinical benefits of cannabidiol in epilepsy patients and obtained their Orphan Drug Designation in 2021. “Showing safety & efficacy results for this unmet need is a significant step in our long-term goals to commercialize a superior drug. We plan to start our Phase-3 clinical studies in Angelman Syndrome patients in Q3 of 2023. We are excited and look forward to our ongoing collaborations with Clever Leaves,” said John Allen, President, Biom Therapeutics.

(This information is primarily sourced from Clever Leaves. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).