Curity Pharma is investing €20 million in the cultivation and production of medicinal cannabis in the industrial area of Larissa, Greece. The facilities span a total area of 67,000 square meters, with €5.5 million of the investment sourced from the Recovery and Resilience Facility, and an additional €1.25 million as a grant under the development law.
The company’s shareholder structure includes co-founders Manos Chatiras and Leonidas Garyfallos, each holding a 12% stake. Michalis Sallas of Lyktos Group holds 37.5%, while the remaining shares belong to the Cyprus-based private equity fund, Impactus Group.
Deputy Minister of Rural Development and Food, Dionysis Stamenitis, highlighted that this international investment in Larissa is of high added value with a distinctly Greek dynamic. The project encompasses a 67-acre area, featuring a 1,800 square meter processing unit. The first phase includes a 5,000 square meter greenhouse—a hybrid facility designed to enhance plant resistance to diseases—and a 1,800 square meter production unit adhering to Good Manufacturing Practices (GMP). This unit comprises two main production lines for the preparation and packaging of herbal medicinal products.
The company anticipates receiving cultivation licenses within 2024, with the first products expected in 2025. The production line is set to develop eight different products aimed at:
- Alleviating severe nausea in cancer patients undergoing chemotherapy
- Managing HIV and Hepatitis C
- Addressing chronic pain (cancer-related or neuropathic)
- Assisting patients with multiple sclerosis
- Providing palliative care for terminal-stage cancer patients
Co-founder Manos Chatiras noted that Larissa was chosen for its ethical standards and the quality of its people.
