Praetorian Global, Inc. has entered into a licensing agreement with InterCure to cultivate, manufacture, and distribute Binske cannabis products in Israel, Germany, Australia, UK and other markets.
Known for its proprietary strains, craft ingredients, full product suite, and best-in-class packaging, Binske offers luxury, artisan products. The Binske brand has won awards including Leafly’s Best Overall Brand, Best Edibles and Best Concentrates. The agreement allows Intercure's Israeli hub to manufacture and distribute Binske-branded products under EU-GMP standards in the international pharmaceutical space.
"As the international markets emerge, we feel it is our duty and responsibility to partner with global-leaders like InterCure who possess the same level of commitment to providing patients with the most sophisticated brands and best-in-class product offerings," said Jacob Pasternack, Praetorian Global’s founder, chairman and CEO. "We have put significant time and resources into developing a nucleus of consumer patronage throughout North America and will now strategically take that same level of passion and dedication towards consumer experience abroad."
As part of the agreement, Praetorian Global will provide InterCure access to its intellectual property, including genetics, formulations and know-how for cultivation and manufacturing of Binske products at the company's facilities. In addition, the company will provide InterCure with IP relating to extraction formulations and the production of downstream products developed by Binske, and will support InterCure's team with training of manufacturing and cultivation methods that are tailored for Binske’s standards. Under the terms of the agreement, InterCure will produce and distribute Binske products, leveraging its international supply chain using the company's medical cannabis-dedicated pharmacy chain.
During the 7.5-year term of the agreement, the same lines of core Binske products launched in North America will be manufactured and distributed by InterCure in the territories stipulated in the agreement.
This partnership will bring together InterCure's expertise in manufacturing at the EU-GMP pharmaceutical standard with Binske's expertise in crafting live rosin, live resin, gummies, chocolates, olive oil, wax, shatter, and medical cannabis vaping devices. While the regulatory framework in the agreed territories is different from the U.S., InterCure expects to utilize its GMP supply chain to comply with all regulatory requirements involved with the manufacturing and distribution of the products in the target markets.
"Binske is already one of the most recognized cannabis brands in the U.S.," said InterCure CEO Alexander Rabinovitch. "Partnering with world-class leaders was always a significant part of our strategy and it enabled us to develop our industry leading portfolio of premium branded products. We are excited to partner with Binske and bring their high-quality flower and non-flower products into the pharmaceutical cannabis markets, improving quality of life for patient communities globally."
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