GRANTS, NEW MEXICO, Aug. 23, 2024 (GLOBE NEWSWIRE) — Bright Green Corporation (Nasdaq: BGXX) (“Bright Green” or the “Company”) today announced that it has signed a letter of intent to supply its DEA-approved marijuana extracts and plant-based psychedelics to Benuvia Operations, an FDA-registered, DEA-licensed and cGMP-certified leader in pharmaceutical cannabinoids and psychedelic molecules currently under investigation for clinical use.
This fully in-house agreement underscores Bright Green’s ability and commitment to supply U.S. pharmaceutical partners with high-quality organic materials. Under the supply agreement proposed in the MOU, Benuvia intends to leverage Bright Green’s unique position to manufacture Schedule I and II raw materials in full compliance with Good Agricultural and Collection Practices (GACP), Good Manufacturing Practices (GMP) and DEA in the United States to produce domestically manufactured, cGMP-grade Active Pharmaceutical Ingredients (“APIs”) for the U.S. and global markets.
Bright Green sees this as another step toward becoming the leading domestic supplier of DEA-controlled, plant-based raw materials for the production of cannabinoid, psychedelic and opioid-based medicines in the United States. With a new round of fundraising and supply agreements in the pipeline, Bright Green is positioned for strong performance in 2025.
The Drug Enforcement Administration (DEA) just completed its annual operating procedures for the cultivation and manufacturing of all of its Schedule I and II drugs in July. Bright Green meets this high national standard and is now one step closer to being operational and providing the pharmaceutical industry with the materials it needs to innovate.
ABOUT BRIGHT GREEN CORPORATION
Bright Green is one of the few companies authorized by the U.S. government and the New Mexico Board of Pharmacy to cultivate, manufacture and sell Schedule I and II herbal drugs for research, pharmaceutical applications and related export under federal and state law. Bright Green’s approval by the U.S. Drug Enforcement Administration gives the company the opportunity to advance its vision of improving the quality of life through the possibilities of cannabis and other herbal therapies and more. For more information, visit www.brightgreen.us
ABOUT BENUVIA
Benuvia Operations, LLC is a pioneer in the research, development and commercialization of innovative pharmaceutical products in a wide range of therapeutic areas. Benuvia is committed to improving patient outcomes through rigorous scientific studies and high-quality manufacturing processes. With FDA registration, DEA license and cGMP certification, Benuvia is a pioneer in the pharmaceutical industry. Benuvia’s flagship product, SYNDROS, is an FDA-approved drug for the treatment of anorexia associated with weight loss in AIDS patients and for the treatment of chemotherapy-induced nausea and vomiting. For more information, visit www.benuvia.com.
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