Medical cannabis is a pharmaceutical product prescribed by physicians to help relieve symptoms associated with serious health conditions such as chronic pain, multiple sclerosis, cancer-treatment-related nausea, and certain psychological disorders.
The European medical cannabis market is expanding rapidly. By 2025, the market is expected to reach approximately EUR 2 billion, with strong growth potential through 2030. This expansion is being driven by rising patient demand, broader regulatory frameworks, and increasing production capacity across the continent.
Germany remains one of the most important markets in Europe, with significant room for further development as prescription access and pharmacy participation continue to grow. Overall, the European market is expected to maintain strong annual growth in the coming years.
In Greece, medical cannabis was legalized in 2017. However, patient access through prescription was delayed for several years due to bureaucratic procedures, and the first medical prescriptions only began reaching patients on February 19, 2024. This legal foundation creates an important opportunity for Greece to become part of Europe’s next phase of medical cannabis growth.
Project Vision
Against this backdrop, M Life Sciences is developing an EU-GMP-certified medical cannabis production and processing facility in Alexandroupoli, Greece. The core objective of the project is to produce traceable, sustainable, and pharmaceutical-grade medical cannabis products in full alignment with strict European Union quality standards.
The facility is strategically positioned as an export-oriented platform focused on high-demand European markets, particularly Germany, where prescription-based medical cannabis demand is rising rapidly.
Strategic Location and Facility Scope
The production campus is located in the Alexandroupoli Industrial Zone under a long-term lease arrangement with a path toward acquisition. The facility will cover approximately 4,600 square meters and will include cultivation areas, research and development laboratories, and GMP laboratories.
All production and processing activities are designed to take place within a fully enclosed and controlled environment.
Development Phases
The project is planned in two phases. Phase 1 is designed around conservative operating assumptions and includes cultivation capacity for approximately 2,000 kilograms of cannabis per year, together with a GMP-compliant processing unit covering all initial production stages.
Required licenses, municipal construction permits, and first-phase investment incentive approvals have already been obtained and were published in the Greek Official Gazette dated October 30, 2025.
Investment and Early Operations
Phase 1 capital investment is projected at EUR 2 million. During 2026, the company expects to focus on construction, validation, and operational setup, with no commercial sales anticipated during that year.
A portion of the investment is expected to be supported through incentives, reducing the company’s direct equity requirement. In 2027, following testing and regulatory approvals, the company plans to begin limited commercial sales. By 2028, Phase 1 is expected to operate at full planned capacity, reaching annual production of approximately 2 tons and generating a strong revenue base.
Expansion Outlook
The second phase of the project is intended to expand production capacity significantly. With the completion of additional facility and process investments, annual capacity is planned to increase beyond current first-phase levels, with operating assumptions reflected conservatively in financial planning.
At full scale, the project is expected to become a major regional medical cannabis hub, offering high-value production, supply reliability, and long-term export revenue potential.
Operational Roadmap
The development roadmap foresees completion of first-phase construction during 2026, followed by equipment validation, GMP pre-audits, and operational readiness activities.
Research and pilot production are expected to begin by the end of 2026. This stage will allow the company to test quality, efficiency, and regulatory compliance before entering full commercial production, creating the foundation for a scalable and sustainable operating model.
Company Background
M Life Sciences IKE was established in 2021. The company is majority-owned by Doğukan Berk Memik, who also serves as General Manager.
The business is structured around two principal activity areas: the cultivation of medicinal and aromatic plants, and the manufacturing of pharmaceutical preparations. This dual focus supports M Life Sciences’ vision of becoming a fully integrated medical cannabis platform capable of serving regulated European markets with reliable, pharmaceutical-grade products.