Bod Australia has announced record revenue of A$7.52 million for FY21, up 25% from the previous year.
Medicinal cannabis products accounted for $2.3 million in revenue (up 40%), which Bod said was boosted by the sale of 12,187 MediCabilis product units, an increase of 212% from 3,907 in FY20.
The company also generated $4.39 million in revenue from CBD wellness product sales. Bod chief executive officer Jo Patterson said the company now has two very strong business divisions with diversified revenue streams.
She added: “These provide the company with access to multiple markets, a growing portfolio of products and brands backed by scientific expertise… and innovative product development.
“As such, we are well placed to capitalise during FY22 and beyond and while organic growth will be a primary focus, we have a very strong balance sheet that allows the company to assess potential complimentary acquisitions.”
Emyria has engaged neuropharmacologist Dr Mat Martin-Iverson to help evaluate a library of more than 100 novel MDMA-analogues it recently secured the exclusive rights to.
The former head of psychopharmacology at UWA, Dr Martin-Iverson has more than 35 years’ experience studying and researching the effects of amphetamines and other psychostimulants. He will help evaluate the library and advise on the creation of new compounds to expand it.
Emyria managing director Dr Michael Winlo said: “We are delighted to be working closely with Dr Martin-Iverson as we evaluate and expand our unique library of MDMA-analogues.
“We believe Dr Martin-Iverson’s unique expertise and deep knowledge of amphetamines will help us identify promising compounds, as well as design new ones, to develop promising novel psychedelics and new treatments for neurological disorders.”
Cann Group has posted losses of A$25.1m for FY21 compared to $16.94m in the previous year. Revenue and other income from ordinary activities grew from $1.86m in FY20 to $8.57m in FY21. The company has also announced the appointment of Deborah Ambrosini as chief financial officer, replacing Greg Bullock.
Health House International has signed an import and distribution agreement with UK-headquartered distributor Smartway Pharmaceuticals.
The agreement will see Smartway import medicinal cannabis products into the UK using Health House’s cannabis supply network.
Health House chief executive officer David Attwood said: “This agreement… will combine the strengths of each party in ensuring that healthcare professionals in the UK and, ultimately, their patients have a broad access to the very best cannabis-based medicines from all over the world.”
Releaf Clinics has announced plans to open four new medicinal cannabis clinics and three dispensaries in Queensland.
The clinics are set to open in Caloundra, Noosa, Mooloolaba and Fortitude Valley over the next four months with Caloundra the first cab off the rank in mid-October. Dispensaries will support the clinics at all locations except Mooloolaba.
Releaf Group founder and CEO Gary Mackenzie said the company was expanding into Queensland to meet rising demand.
He added: “We know there are thousands of Queenslanders who are looking for a multi-disciplinary approach to healthcare and we’re pleased we’ll soon be in a position to offer this at our four new clinics.”
“While our doctors are trained in medicinal cannabis prescribing and our pharmacists are also trained in its use, [it] is only one potential therapeutic option for patient health conditions and suitability is assessed on an individual basis in consultation with the doctor.”
Creso Pharma has reported revenue of A$1.63m for the June quarter, up 18% on the previous quarter and 451% up on the previous corresponding period (Q2 CY20).
Mernova generated unaudited revenue of $966,456 (up 21% from the previous quarter) and sales of human and animal health products (CannaQIX and anibidiol) generated $607,344.
Following a recent crowdfunding initiative, Greenfern Industries has made an application to list on the NZX. If accepted, it will be the first Taranaki-based company to publicly list for nearly 20 years.
Greenfern advisor and independent shareholder Philip Brown said: “This is a very exciting time for Greenfern as it builds its governance and operational capacities in readiness for what will be a massive global shift from traditional medicines to therapeutic products using medicinal cannabis grown right here in Taranaki.
“We seek to showcase Taranaki and its pure and natural environments on a global scale once all of the regulatory and licensing is in place, which is expected by Q4 2021.”
Medlab Clinical has been granted approval for a Phase 3 clinical trial of its CBD candidate NanaBis for the treatment of cancer bone pain by the Australian government.