Clever Leaves Strengthens Its Presence in the U.S. Through Partnership With Biom Therapeutics

Under the two-year supply agreement Clever Leaves will deliver CBD Isolate to Biom Therapeutics to manufacture a finished product for clinical trials in the United States

New York, New York, UNITED STATES


BOCA RATON, Fla. and SARASOTA, Fla., April 20, 2022 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids today announced a two-year supply agreement with American, clinical-stage biopharmaceutical company, Biom Therapeutics (“Biom”) to provide high quality CBD isolate.

Clever Leaves has already provided Biom Therapeutics with the first shipment of EU GMP compliant CBD isolate to be manufactured by Biom into formulations for use in studies and clinical trials for rare neurological and developmental diseases.

“We are grateful for the opportunity to deliver high-quality, pharmaceutical-grade, CBD products to help advance medical cannabis research in the United States through our new partnership with Biom Therapeutics,” said CEO of Clever Leaves, Andres Fajardo. “The United States market is a key focus for Clever Leaves in 2022 and partnering with strong biopharmaceutical companies like Biom Therapeutics will help us further grow our pharmaceutical presence and establish our superior standard of product quality in the United States.”

Since its beginnings Clever Leaves has had the mission to work to supply medicinal grade products to help patients around the world. To date the company has multiple international certifications, including European Union Good Manufacturing Practices (EU GMP), that allow it to be a reliable supplier to its customers, either in the field of research or providing its portfolio of products to different types of customers in more than 15 countries around the world.

“We believe medical cannabis will be in mainstream medicine for chronic illness in the coming years, and we wanted to reinforce our partnership with industry leaders and leading researchers in this emerging field,” said Dr. Bobban Subhadra, CEO of Biom Therapeutics. “BIO017 is a novel drug formulation for rare epilepsies that require high purity cannabidiol. Clever Leaves has the state-of-the-art cGMP facilities to make high-purity USP grade Cannabidiol; we are quite excited to partner with Clever leaves to procure our drug substance for our BIO017 formulation,” he added.

Biom has already shown the clinical benefits of cannabidiol in epilepsy patients and obtained their Orphan Drug Designation in 2021. “Showing safety & efficacy results for this unmet need is a significant step in our long-term goals to commercialize a superior drug. We plan to start our Phase-3 clinical studies in Angelman Syndrome patients in Q3 of 2023. We are excited and look forward to our ongoing collaborations with Clever Leaves,” said John Allen, President, Biom Therapeutics.

About Clever Leaves Holdings Inc.
Clever Leaves is a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids. Its operations in Colombia and Portugal produce cannabinoid active pharmaceutical ingredients (API) and finished products ​in flower and extract form to a growing base of B2B customers around the globe. Clever Leaves aims to disrupt the traditional cannabis production industry by leveraging environmentally sustainable, ESG-friendly, industrial-scale and low-cost production methods, with the world’s most stringent pharmaceutical quality certifications.

For more information, please visit https://cleverleaves.com/en/home/ and follow Clever Leaves on Twitter and LinkedIn.

About Biom Therapeutics
Biom Therapeutics, a clinical stage biopharmaceutical company, was founded by a team of business leaders, scientists, and clinicians with a focus on developing therapeutics for hard-to-treat neurological diseases. Biom Therapeutics has positioned itself to be a world-class biotech firm that improves human health and quality of life by developing innovative drugs for treating and possibly reversing the effects of hard-to-treat diseases, including rare forms of epilepsy and autism. Biom's immediate goal is to bring practical treatment into current medical practice as quickly as possible.

Please visit: https://biomtherapeutics.com/

Clever Leaves Press Contacts:
Rich DiGregorio
KCSA Strategic Communications
+1-856-889-7351
cleverleaves@kcsa.com

Diana Sigüenza
Strategic Communications Director
+57-310-236-8830
diana.siguenza@cleverleaves.com

Clever Leaves Commercial Inquiries:
Andrew Miller
Vice President Sales - EMEA, North America, and Asia-Pacific
+1-416-817-1336
andrew.miller@cleverleaves.com

Clever Leaves Investor Inquiries:
Cody Slach and Jackie Keshner
Gateway Investor Relations
+1-949-574-3860
CLVR@gatewayir.com

Biom Therapeutics Press Contact
Bobban Subhadra
Chief Executive Officer
+1-941-552-8417
bsubhadra@biomtherapeutics.com

John Allen
President
+1-204-1401
jallen@biomtherapeutics.com