ASX-listed Bioxyne’s wholly-owned subsidiary Breathe Life Sciences (BLS) has signed a joint venture deal with technology company CanXChange to launch an AI-powered B2B therapeutic goods platform in Australia.
Expected to go live in Q4 2023, Bioxyne said the platform will facilitate wholesale trading between licensed buyers, sellers, cultivators and accredited manufacturers in Australia and open international markets for Australian firms with an export licence.
Bioxyne told the ASX London-based CanXChange is the largest B2B cannabis platform in Europe with more than €30 million (nearly A$51m) of transactional volumes to date.
It added the tech firm specialises in providing digital exchange venues, payment, compliance and data services, develops its own proprietary technologies and is “at the forefront of AI research and development” for the industry.
Bioxyne CEO Sam Watson said of CanXChange Australia: “It’s a phenomenal platform and tool, and we expect significant uptake in the market.”
CanXChange CEO Alex Arkentis added the joint venture was “a strong statement made by both companies to develop technological and operational efficiency standards for the Australian medicinal cannabis industry, which has recently become the most coveted market… in the world”.
Bioxyne recently launched online healthcare business BLS Clinics with technology partner InstantScripts.