There’s certainly a lot going on down-under in relation to medical cannabis these days compared to just a couple of years ago. Here’s a few interesting tidbits of news from Australia’s cannabusiness scene over the past few days.
CannPal (ASX:CP1) announced on Tuesday it had entered into an agreement with NZ-based Jaychem Industries Ltd to provide manufacturing services for CannPal’s nutraceutical pet product, DermaCann; which targets canine skin health. CannPal says it expects the product to be ready for commercialisation next year.
A market update from 1-Page Limited (ASX:1PG) states the company is pleased with progress of a specialist medical cannabis clinic opened in Berlin by HAP Medical Group, which has experienced strong patient bookings since the beginning of March. 1-Page Limited entered into an agreement to acquire 100% of HAPA in February this year.
Bod Australia Limited
On Wednesday, Bod Australia Limited (ASX:BDA) said it will appoint George Livery as Executive Chairman of the company.
“With new SKU’s deep into development in the medicinal cannabis space that will set it apart from other companies and provide another exciting suite of products, Bod Australia will grow into a powerhouse wellness company,” said Mr. Livery, whose previous appointments included senior executive positions with Swisse Wellness Group.
Bod aims to develop a range of over-the-counter and therapeutic products based on GMP-certified cannabis extracts.
MMJ PhytoTech Limited
Yesterday, MMJ PhytoTech Limited (ASX:MMJ) announced it had invested AUD $600,000 in privately-held Martha Jane Medical Limited. The seed funding capital will provide MMJ a 12.6% shareholding in the company.
Martha Jane Medical plays its cards close to its chest (an advantage of being a private firm) but states it is dedicated to developing safe, reliable and effective scientifically-verified cannabinoid treatments for patients in Australia and abroad.
Creso Pharma Limited
Creso Pharma Limited (ASX:CPH) said yesterday that a Heads of Agreement in relation to the proposed acquisition of Kunna Canada Ltd. and its wholly -owned Colombian medical cannabis subsidiary, Kunna S.A.S., had been extended to 30 June 2018.
Creso says if the acquisition is completed, it will give the company a foothold in the strategically important Latin American market and make it the only ASX listed medicinal cannabis company with direct exposure to the Colombian market.
Elixinol Global Limited
Mumbrella reports Elixinol Global Limited (ASX:EXL) has become the first company to gain approval for a billboard advertising cannabidiol in Japan. While Elixinol has been supplying products in Japan for three years, up until now it hasn’t been able to actively market its wares.