Bod to Leverage LYPHE's Presence in UK Market to Build their Growing Focus in the UK Medicinal Marijuana Industry.
Medicinal cannabis, CBD and hemp healthcare products company, Bod Australia Limited (ASX:BDA) has secured a strategic agreement with medicinal cannabis services provider and distributor LYPHE GROUP.
Under the agreement, LYPHE will act as Bod's preferred dispenser for Project Twenty21. Project Twenty21 is Europe's largest medicinal cannabis registry targeting 20,000 patients. The agreement has no fixed term and can be terminated by either party giving six months' notice in writing. LYPHE is the UK's leading medicinal cannabis service provider and distributer. The group is made up of a number of vertically integrated companies that provide patient focused medicinal cannabis solutions to UK consumers.
LYPHE the UK's busiest medicinal cannabis prescriber, providing telehealth services as well as operating from physical clinic locations across the country. The group has over 20 prescribing physicians writing over 50% of all new cannabis prescriptions in the UK market.
This agreement is pivotal for Bod's growing focus on the UK medicinal cannabis market and the Company's participation in Project Twenty21. Bod is confident that its partnership with LYPHE will ensure the most efficient process to dispense its medicines.
Bod will leverage LYPHE's established footprint in the UK market, its distribution channels and network of physicians to fill the large number of prescriptions that are expected to be generated from Project Twenty21 patients. First prescriptions for Project Twenty21 participants have already been filled and the Company looks forward to providing an update on growth in the near term. Bod will also utilise the partnership to build opportunities outside of Project Twenty21, allowing it to further penetrate the UK private market. The UK presents a large market opportunity for the Company and Bod is confident operations in the country will scale up in the coming months.
This is a great partnership, which will help Bod streamline its medicinal cannabis sales Jo Patterson, Bod CEO
CEO Jo Patterson said: "LYPHE will ensure Bod's participation in Project Twenty21 will provide patients with seamless and efficient access to Bod's MediCabilis™ products.
"LYPHE is a respected operator in the UK cannabis sector and this agreement will allow Bod to build
further brand awareness with patients in the country. This is of particular importance, as many
medicinal cannabis users from the private market are fast becoming part of Project Twenty21.
"We are achieving consistent growth through our medicinal cannabis operations in Australia and the UK and we look forward to highlighting this progress to shareholders in the near term."
The UK market continues to grow at an accelerating rateDean Friday, LYPHE CEO
LYPHE's CEO, Dean Friday added: "We are thrilled to have entered a partnership with a company of the calibre of Bod
Australia. LYPHE has a growing network of clinics and physicians prescribing medicinal cannabis across the United Kingdom and we are excited to be offering Bod's MediCabilis® products to patients enrolled in Project Twenty21.
"we are noticing a significant shift in patients using medicinal
cannabis to treat a range of debilitating conditions. We have no doubt that MediCabilis™ will be well received by our
physicians and patient base."
To read more about Bod Australia, visit their company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
Get the Latest Marijuana News &
Content in your Inbox!
All your support helps The Green Fund keep writing content for all you
marijuana enthusiasts and potential pot stock investors