About AMP Alternative Medical Products (“AMP“)
AMP Alternative Medical Products GmbH, is a biopharmaceutical company based in the German state of Thuringia and provides medical cannabis formulations and dose delivery systems for German patients.
Since March 2017, German doctors can prescribe medical cannabis to patients suffering from serious illnesses which patients can get filled by pharmacists and generally paid for by German health insurance companies. AMP’s business involves the purchase of EU-GMP medical cannabis from third party suppliers, and arranging transportation, logistics and storage services, for ultimate distribution through pharmaceutical distributors to pharmacists in Germany.
According to analytics firm Prohibition Partners at the 2019 Davos World Economic Forum, Europe’s three largest medical cannabis markets, Germany, the Netherlandsand Italy, could double in size in 2019, making this a “transformative” year for the European market.
In Canada, licensed producers of cannabis (“LPs”) that enter into supply contracts with AMP are audited to ensure they meet EU-GMP standards before AMP arranges for EU-GMP certification. EU-GMP provides the standards, principles and guidelines of good manufacturing practices for medicinal products used in the European Union and sets the minimum quality standard for cannabis for medical use. For Canadian LPs that do not meet EU-GMP standards, AMP and its German pharmaceutical consultants cooperate to identify the deficiencies, provide advice on how to meet the standards, and conduct an audit upon completion of the upgrades. When the LP passes the audit, AMP arranges for the final EU-GMP certification by German State Officials. Upon final certification, AMP applies for the required import licenses to Germany. If required, AMP may provide loan financing for EU-GMP upgrades
By 2021, AMP plans to develop its own medical cannabis strains in collaboration with German patients, doctors and pharmacists for the German market.
AMP has raised $500,000 in equity and convertible debt financing in a Series A and B financings during 2018.