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European countries are making progress towards legalisation by way of trials and pilots. Switzerland cleared the way for a limited pilot program to allow the legal production and distribution of recreational marijuana. A majority of the members of the German parliament are in favor of recreational marijuana reform. On the capital market news, Sanity Group completed one of the largest cannabis financing rounds in Europe to date. Our selective headlines are focusing on all important updates in cannabis and psychedelics industries.
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The Latest News
Regulatory updates
Switzerland to launch a marijuana pilot program. Switzerland’s lower house health commission has approved a pilot program that would allow for the legal production and distribution of recreational marijuana in the country. Guidelines stipulate that 1) only adults 18+ will be able to participate; 2) participants need to be current cannabis consumers to qualify; 3) no consumption in public areas will be allowed, and 4) employers and schools will be informed about participants. The pilot is seen as an opportunity for policymakers to gather evidence rather than the first step towards legalisation. To read more
Croatian MP says she will soon be introducing a recreational cannabis legalisation bill. In recent years, HDZ (Croatian Democratic Union) has begun to change its rigid views on marijuana. However, more and more people believe that decriminalisation is not enough. One of them is Mirela Holy, SDP Green Development Council President, and one of the most prominent public figures supporting "Lex Cannabis". She revealed that the bill will be going to public debate within a week and that will be followed by parliamentary debate. The bill would provide for the full legalisation of cannabis. To read more
The majority of German parliament favors recreational cannabis reform, but change neither sure nor imminent. With the Social Democratic Party of Germany (SPD)’s new position, a majority of the members of the German parliament represent a political party in favor of some type of recreational marijuana reform. It’s also the first time that one of Germany’s major parties and part of the government coalition officially favors reform. To read more
Market updates
Patients complain that you cannot get medicines based on medical, legal marijuana in pharmacies in Poland. The importer (Spectrum Cannabis) assures that as early as February in Poland, the largest dried hemp supply to date will reach Poland. We notice that the demand definitely exceeds our supply - says Tomasz Witkowski, country manager at Spectrum Cannabis belonging to the Canadian capital group Canopy Growth. - Last year, we delivered about 60 kilograms of dried fruit to the Polish market. The next delivery, which is planned for February, i.e. this month, will be based on around 40 kilograms. To read more
Berlin-based Sanity raises $22 million in the Europe’s largest cannabis financing round. Sanity Group, a medical cannabis and wellness company headquartered in Berlin, has completed what it is calling the “largest round of cannabis financing” in Europe to date. The round was led by Calyx, a European cannabis-focused investment fund, and HV Holtzbrinck Ventures of Germany, Sanity said in a news release. To read more
A Psychedelics Company Is About to List on a Public Stock Exchange. Mind Medicine, a Canadian pharmaceutical firm, wants to create medications from LSD, ibogaine, and possibly other psychedelic drugs, too. The company hasn’t yet generated revenue, but it’s anticipating a $50 million valuation when it goes public. To read more
Research and Development
Johns Hopkins Will Test Epidiolex to See If It Can Help with Opioid Withdrawal. The new study, which begins on April 1st, will explore whether Epidiolex, a federally-approved CBD medication, can help reduce symptoms of opioid withdrawal. To read more
One Trip on Psilocybin Mushrooms Can Break Tobacco Addiction, Study Finds. Johns Hopkins University Medical School made history last year by becoming the first American university to establish its own psychedelics research institute. A whopping 80 percent of 700 participants stopped smoking after a single psilocybin-assisted therapy session. The findings confirm previous research that showed psilocybin could break not only nicotine addiction but also alcohol, opioid, and stimulant addictions, too. To read more