AusCann

AusCann has started designing a clinical discovery trial to evaluate its cannabinoid-based formulations in people with spinal cord injury (SCI).

In September, AusCann appointed Cannvalate’s clinical research division to complete a strategic review of its existing animal data and research assets to support the development of new cannabinoid-based drug candidates which could be fast tracked for human registration pathways.

Key role: Dr Marc Russo

The assessment addressed US Food and Drug Administration regulatory pathways, commercial feasibility, clinical trial mapping and the pathology and symptoms of people suffering from SCI.

Following the assessment, AusCann has opted to withdraw from its previously planned investigator-led trial to redirect its resources to a research and development program better designed to support product registrations in targeted medical conditions.

AusCann said its medical advisory board, led by pain specialist Dr Marc Russo, will play a key role in shaping the design of the trial, with that phase expected to be completed in early 2022

The Sustainable Nutrition Group

The Sustainable Nutrition Group (TSN), formerly Australian Primary Hemp, has entered into an agreement with Australian Plant Proteins (APP) to develop a hemp concentrate and isolate.

TSN will own the intellectual property for the hemp-based plant protein and have 15-year exclusivity on its sale, with commercialisation in Australian and New Zealand expected to commence in Q4 FY22, followed by entry into global markets.

Managing director Neale Joseph said: “By partnering with APP, TSN can leverage opportunities in the plant protein market to take advantage of strong consumer demand for plant-based health and wellness products.

“The partnership creates fast-to-market opportunities, without significant capex requirements for products which attract a premium due to their superior protein properties.”

Canntab Therapeutics

Canadian hard-pill manufacturer Canntab Therapeutics has received a medical sales licence from Health Canada for its Ontario facility, enabling the sale of products directly to medical consumers.

The amendment marks the final regulatory step required to launch the company’s direct-to consumer website, allowing patients across Canada to order online.

Canntab recently landed its first hard-pill medicinal cannabis product in Australia, available under the Special Access Scheme via a joint venture with Cann Global.

MediPharm Labs

MediPharm Labs’ new CEO Bryan Howcroft joined the company this week with a mission to drive international and pharmaceutical sales growth.

MediPharm Labs CEO Bryan Howcroft

His appointment comes as the Canadian-based firm announced its Q3 financial results for the period ended September 30, 2021, one it described as “a period of transition in establishing itself as an international pharmaceutical company specialising in cannabis”.

International sales increased by 16.5% on the previous quarter to C$2.9 million, representing 53% of total sales in Q3. The company said it has a strong balance sheet, with $38 million in cash and cash equivalents as at September 30, 2021.

President Keith Strachan added Howcroft’s “deep expertise in navigating complex regulated international markets will enable MediPharm’s transition towards pharmaceutical and medical markets to reach new heights”.

Medlab Clinical

Medlab Clinical has completed the sale of its Australian Nutraceuticals business to PharmaCare announced in October.

PharmaCare has paid A$2.2 million for the transfer of specific Medlab IP, pre-paid stock, stock on order and stock on hand. The deal also includes a two-year earnout being the greater of $500k or 5% of net sales in the first two years.

Medlab said it is in a strong cash position with $13 million in the bank.

Cannim

Cannim chief commercial officer Stuart Marsh

Cannim has signed a distribution agreement with CanMart to import its Lumir range into the UK.

Lumir CBD50 will be available, alongside the Lumir THC25 and 10:10 variants, to medicinal cannabis patients across the country. The five-year agreement will also extend to the brand’s flower range.

Cannim chief commercial officer Stuart Marsh said CanMart’s expertise was “instrumental in securing the relevant approvals to introduce British patients to our products”.

Meanwhile, Cannim has signed a two-year deal with InhaleRx to use the firm’s Medicale pods and inhalation devices as a delivery mechanism for its cannabinoid formulations.

Montu

Montu and its Alternaleaf platform achieved a strong start to a crowdfunding campaign which went live on Tuesday (November 16), raising A$1 million in under 14 minutes and $2 million in just over five hours. 

The share offer will go public today (November 18), but according to The Australian, the shares are expected to be exhausted by then.