Newsletter Q3 2024
SOMAí Group: Introducing NovaSoma and Strengthening Our Global Footprint
In Q3, we made a significant strategic move with the creation of SOMAí Group, adding to our innovative extracts Business Unit, SOMAí Pharmaceuticals, our new rebranded cultivation site, NovaSoma, the house of premium flower brands. This marks a pivotal moment in our journey as a leading EU-GMP vertically integrated Multi-Country Operator (MCO) with a global footprint for the largest and most advanced EU GMP-certified cannabinoid-containing pharmaceutical portfolio.
Alongside this landmark acquisition, we solidified our presence in key markets such as the UK, Germany, and Australia by launching innovative new extract product lines, where our products have shown great sales evolution and high demand among patients. In addition, we expanded existing partnerships and established new distribution partnerships in Ireland and Poland, ensuring wider access to our comprehensive medicinal cannabis portfolio. Looking ahead, we are finalizing strategic partnerships in Italy, France, the Czech Republic, Switzerland, and Costa Rica as we continue to broaden SOMAí’s global reach. Our vision remains ambitious: to ensure access to cannabis-based treatments in every country worldwide.
SOMAí Group is now an overarching distribution hub for two core entities, SOMAí Pharmaceuticals and NovaSoma, showcasing the strength of our vertically integrated model.
As SOMAí Group continues to grow through strategic acquisitions and global brand partnerships, we stand as one of the first European-based, vertically integrated companies capable of addressing the volumes and diverse needs of the fast-growing global cannabis markets. As we continue to expand globally, we’re excited to share more about our achievements and future plans.
Strategic Partnerships and Product Innovation
In Q3, SOMAí Group expanded its global presence with key strategic moves. We announced a new partnership with Georgelle Pharmaceutical in Ireland, which will bring our portfolio of cannabis-based extracts and flowers to Irish patients in 2025. Additionally, we extended our collaboration with Cosma in Poland, which will significantly expand our product registration to 45 SKUs, making SOMAí the largest cannabis portfolio provider in the country.
Our first Oral Solutions Essentials and Mint product lines are already available to patients in Germany, Australia, and the UK, providing essential treatment options to growing patient populations. We continue to innovate with patient-focused product lines, including our second product line, Mint Oral Solutions. Featuring single-strain oils infused with peppermint terpene blends, this line offers formulations ranging from CBD-dominant to high-THC options. Designed to improve patient compliance and enhance the treatment experience, this new product line is just one example of how SOMAí is advancing the global medicinal cannabis market through innovation and quality.
Building a Supportive Framework for Cannabis in Europe and Beyond
In July, SOMAí Pharmaceuticals partnered with the Union des industriels pour la valorisation des extraits de chanvre (UIVEC) , a professional union representing the cannabinoid and medical cannabis sector in France. This collaboration supports the development of a regulatory environment favorable to the cannabinoid extract market, and we are committed to contributing to the training of the different stakeholders in France as we prepare to introduce our advanced lineup of extracts.
In August, we joined forces with the Cannabis Industry Council in the UK, further demonstrating our commitment to shaping the future of cannabis-based treatments in the region. This partnership allows us to collaborate with industry leaders to support patient access and drive innovation in the UK’s medical cannabis sector.
Our expansion efforts don’t stop here. We are actively negotiating contracts to enter markets in Italy, France, the Czech Republic, Switzerland, Costa Rica, and many more countries, further extending SOMAí’s global reach and distribution network. With each new market, we bring the same dedication to quality, patient care, and regulatory expertise that defines our success.
Enhancing Knowledge and Awareness: SOMAí’s Educational Initiatives
SOMAí Pharmaceuticals is dedicated to improving patients' well-being through education across all countries where we operate. By engaging directly with doctors and pharmacists worldwide, we ensure they have the knowledge needed to make informed decisions about the best treatments for various health conditions.
In July, we were pleased to welcome healthcare professionals from the UK to our state-of-the-art facility. Through a comprehensive tour and direct engagement with doctors and pharmacists, we aimed to enhance their understanding of the latest advancements in treatment options. This visit highlighted our commitment to excellence, showcasing our production processes, quality control measures, and the scientific research that underpins our products.
In September, we organized the webinar "Unlocking the Potential of Medical Cannabis Oils: Benefits, Challenges, Differences, and Innovations" for UK professionals in the medical cannabis sector. Hosted by Prof Michael Barnes , President of The Medical Cannabis Clinicians Society and Michael Sassano, Founder, Interim CEO and Chairman of SOMAí Pharmaceuticals, the webinar provided us with the opportunity to discuss with clinicians alternative methods of prescribing and using medical cannabis products, focusing on the growing role of cannabis oils in patient care.
We also organized a Live Stream Event from Australia, "Terpenes and Minor Cannabinoids: Implications for Complex Patient Management," in September. The guest speaker, Dr. Danny Cai , spoke about the clinical implications of terpenes and minor cannabinoids in patient care and provided insights into common misconceptions and practical case studies to enhance your knowledge.
In September, SOMAí proudly sponsored the "Wir kl?ren auf!" awareness campaign in Germany, led by Atilla Bülent Idil . The campaign focuses on raising awareness about medical cannabis, an increasingly important topic following the partial decriminalization in Germany in April 2024. SOMAí is committed to educating the public on often misunderstood or controversial issues surrounding cannabis. With support from experts, patients, and scientists, the campaign aims to destigmatize cannabis through education, providing people with the information they need to make informed decisions about their health.
Industry Events
As the industry evolves, it’s crucial for us to stay informed about the latest developments, trends, and perspectives while building connections with like-minded professionals worldwide. ?In September, SOMAí's Founder, Michael Sassano, spoke at the CB Conference on the "Social and Cultural Contrasts between North America and Europe" panel, where industry experts discussed the impact of regional differences on cannabis marketing, sales, and market entry. "The cannabis industry crashed one of the biggest tobacco and cigar shows of the year at the Dortmund Exposition Center CB Conference. Many of the top cannabis groups and CEOs turned out to support Ben Arn’s CB expo event, and panels were filled with interesting perspectives about the industry. Germany is on fire, and cannabis represented its position well, with all the big tobacco groups showing their wear," said Michael Sassano.
As SOMAí is actively involved in the German market, participating in key industry events is essential for staying connected to the latest developments and opportunities. The event featured a robust program with top speakers from around the world, focusing on topics such as the changes in cannabis legal status in Europe and cannabis use in medicine.
Q4
In Q4, we continue to expand our global presence. Following the successful launches of our Oral Solutions Essentials and Oral Solutions Mint in Germany, Australia, and the UK, we are excited to announce another innovative product line soon.
As we prepare for upcoming launches and continued growth, we are forecasting strong sales in key markets driven by our innovative extract portfolio and increasing non-irradiated flower offerings. With over 100 stabilized SKUs, we are well-positioned to lead the market with high-quality cannabis products that meet the evolving needs of patients worldwide.
Our vertically integrated distribution model, combined with global partnerships and a forward-thinking approach to product development, ensures that SOMAí will continue to set new standards for excellence in the medicinal cannabis industry.
Stay tuned for the launch of our latest, more advanced products later this year. We craft products for today, tomorrow, and beyond.
Latest articles from SOMAí's CEO, Michael Sassano