NZ medical cannabis company Cannasouth’s first products have passed muster with the country’s Medical Cannabis Agency.
While not providing much detail in the announcement on the three products successfully assessed, they appear to be full spectrum extracts. This means they contain all cannabinoids present in the plant and other compounds such as terpenes.
NZ Government Ministry of Health listings reveal the products to be oral liquid medicines named “evalaCann” that will be available in 30ml packs with the following variants; THC ≤1 mg: CBD 20 mg, THC 10 mg: CBD 15 mg and THC 10 mg: CBD ≤1 mg.
THC (tetrahydrocannabinol) is present in the products as THC and THCA (Tetrahydrocannabinolic acid), and CBD (cannabidiol) is present as CBD and CBDA.
Commenting on the full spectrum extract approach, Cannasouth CEO Mark Lucas said:
“While the technical challenges from this did result in us navigating a lengthy regulatory pathway, the wait is worthwhile because of the benefit patients will receive from these enhanced product options,” said Cannasouth CEO Mark Lucas
Successful assessment by the Agency means products have met the quite stringent minimum quality standard under New Zealand’s Misuse of Drugs (Medicinal Cannabis) Regulations 2019, or obtained consent for distribution under the Medicines Act 1981 (approved and provisionally approved medicines).
In other news from Cannasouth, the company noted it is close to harvesting its first commercial medicinal cannabis flower crop at its cultivation facility in Waikato, while also progressing GACP and GMP certification. It also has its sights set on exporting premium cannabis flower this year, which the company says will bring significant revenue to the Cannasouth Group.
The Waikato facility boasts two sealed flowering greenhouses with indoor cultivation areas to house mother and juvenile plants. The indoor cultivation and the post-harvest, trim, dry and pack areas are designed to support a total of eight flowering
greenhouses.
Cannasouth put a lot of thought into energy efficiency for the facility, given energy is a major expense for these types of operations; and notes solar power could be added if it scales up. The firm says it is using chemical-free growing techniques wherever possible and incorporating sustainable practices across all aspects of its operations.
Gaining GACP and GMP accreditations for cultivation operations will enable Cannasouth to secure the highest selling price for its products and provide access to the most tightly regulated overseas markets.
Cannasouth was New Zealand’s first medicinal cannabis company to list on the New Zealand Stock Exchange (NZX:CBD), which occurred back in June 2019.
