Euro Cannabis News

Europe Cannabis News

Hungarian Bioengineering Firm Making Yeast-Derived Cannabinoids

Yeast-derived cannabinoids seem to be a new trend, and Europe is catching up.

Intrexon Corporation, a Hungarian bioengineering firm, just announced that it made progress in its project to extract cannabinoids from yeast. The Budapest-based company uses a synthetic biology approach that they call “Better DNA” for creating biologically-based products to serve various industries. Intrexon says that they have been able to use the same microbes that are needed to create cannabinoids from yeast instead of obtaining them from the actual cannabis plant by using a fermentation process.

Intrexon says that their DNA-engineered yeast can produce a range of cannabinoids including those that have high therapeutic potential yet only exist in minute amounts in the cannabis plant. They highlight the main benefits of using their method versus cannabis-derived cannabinoids, primarily cost savings and a reduction in consumption. “Through our capabilities and experience, we expect to optimize yeast strains to produce specific cannabinoids that may be commercialized in the coming years,” says Intrexon Executive Director of Commercial Operations Chris Savile, PhD.

The announcement from Intrexon via press release, which also added that they were close to their goal of manufacturing pure cannabinoids at just below $1,000 for a kilogram, sent their shares spiking up almost 30% at the end of the day.

HEXO Corp. Planning Large-Scale Cannabis Facility in Greece

HECO Corp. announced plans to create a Eurozone for the processing, production, and distribution of cannabis in Greece. HEXO has partnered with Qannabos, a Greek company, to capitalize on medical markets in Europe. This marks HEXO’s first venture in the European cannabis market, which will give them a head start in providing medicinal cannabis from various brands to France, the United Kingdom, and other markets in the continent as soon as regulations are finalized.

The two companies entered into a joint venture to develop a 350,000 square foot facility operated by HEXO which will benefit the rest of the European market. “We are thrilled to be partnering with HEXO to bring legal medical cannabis expertise to Greece,” says Leonidas Garyfallos, Qannabos co-founder. “Our goal is to create high-quality products and to build relationships with clients that are based on trust; trust in our quality, trust in our approach to business, and trust in our ability to deliver on our commitments. These are values that HEXO prioritizes and we look forward to working with them to serve the European market for years to come.”

HEXO’s move could give them significant market share in the European adult-use cannabis market, which has the potential to reach $110 billion in sales by 2028. Last March 2018, Greece legalized cannabis for medical use although they still haven’t licensed any producers within the country.

The Most Progressive Countries In Europe

Those interested in partaking of European weed can benefit the most from visiting Spain, the Netherlands, and Italy. Recreational use in these countries is still prohibited but social use is clearly much more tolerant in these countries compared to others in the continent.

In Spain, for example, it has been decriminalized to possess cannabis and consume in your personal space. The famous cannabis clubs of Spain has rules that apply only to its members, although this move has been questioned in Spanish courts. But in Italy, it is only considered a misdemeanor to possess small amounts of pot for personal consumption. If caught, lawbreakers will be subject to administrative sanctions or fines.

Many still misunderstand the rules surrounding cannabis consumption and possession in the Netherlands, due to its long-time reputation of coffee clubs serving cannabis to just about anyone. But in the Netherlands, possession of up to 5 grams of pot has been decriminalized although the cops maintain a tolerant attitude regarding the coffee shops.

Other progressive countries include Portugal, Germany, and the Czech Republic. The medical cannabis markets in these countries are advanced when considering the spectrum of qualifying medical conditions, health care coverage, diversity of cannabis-based medications available, infrastructure for import and export, and more. Despite the fact that many European nations still have archaic medical marijuana markets and severely limited product offerings, these laws are expected to change and become more progressive as legalization for adult-use and medical marijuana extends throughout the continent.