Australian companies are making waves with Medlab fast-tracking cannabis for pain research, and Aus growers getting Canadian grow rights.
Australian companies are taking centre stage with cannabis for pain therapy trials and Canadian federal licensing to produce cannabis.
Medlab plans going all out to raise $5.36 million in view of accelerating a medicinal cannabis human trial program at a leading Australian oncology research hospital.
International Business Times reports on biotech company, Medlab’s, launch of a $5.36 million equity-raising program to speed up the process for marijuana-based medicine to be tested on humans.
The therapy to be tested combines CBD (cannabidiol) and THC (tetrahydrocannabinol) in the management of pain. The company’s work on obesity and depression has yielded positive preliminary results. MD Sean Hall says they expect the accelerated program, and new equipment will speed up the delivery time of licensed products to the market by at least 12 months.
Medlab Clinical, listed on the ASX a year ago, was given NSW Government approval for human trials on medical cannabis for pain management in cancer patients.
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Massive Australian grow in Canada
The Australian company MMJ PhytoTech Limited secured the Canadian medicinal cannabis cultivation license through it’s subsidiary, United Greeneries (UG). The cultivation will take place at the flagship Duncan facility under the Marihuana for Medical Purposes Regulations (MMPR).
The Duncan facility
The UG team in Canada is geared to speed up production at the Duncan facility, a 10,000 square feet cultivation area. Including high-compliance items such as a Level 8 Narcotics Vault, and a full service in-house analytical and biochemical laboratory.
MMJ PhytoTech Limited’s Managing Director, Andreas Gedeon, said in a press release “The granting of the Duncan MMPR license is a significant milestone for MMJ, as it underpins the evolution of our “Farm to Pharma” strategy. As the first Australian-based company to receive a Canadian production license, we are encouraged by Health Canada’s endorsement of our facilities.”
The MMPR licensing is a highly valued strategic asset in the global medicinal cannabis industry. The federal nature of the Canadian licensing system provides a potential gateway for exporting products by establishing credibility with regulators when entering new markets.
The Duncan license not only positions MMJ as the supplier to existing Canadian MMPR patients, but the company is also looking at the potential of future regulated recreational markets.
What does this all mean?
Cannabis companies such as Medlab and MMJ’s shares are rising, as the 1-for-9 rights issue was at 30 cents a share. Last trading at 42 cents, well up from the year low of 16 cents.
Backstage it seems as if all is geared for the big change when medical cannabis takes centre stage, and the audience will have to use discernment to distinguish the real holistic, healthy products from the synthetic, “not so real and healthy” ones.
All this is positive as long as integrity prevails, and patients using cannabis for pain are receiving the real benefit of the medicinal herb. Cannabis can not only “cure” illness, but can also “cure” the earth from radiation and other pollution, so the more it gets grown and produced for medicine and other purposes, the better for the earth and all of us.