Bioxyne subsidiary Breathe Life Sciences (BLS) has imported and irradiated a further 200kg of high-THC cannabis flower across four strains into Australia, with a dispensed patient value of A$3.2 million, as it builds its presence in the local market.
The product will be packed into the company’s Dr Watson brand and sold via special access pathways and supplied in bulk to compounding pharmacies and licensed manufacturers.
BLS said the TGA will undertake a GMP inspection, audit, and certification of its Brisbane pharmaceutical manufacturing facility in November, allowing it to scale production capabilities significantly.
Bioxyne CEO Sam Watson added: “GMP certification will allow a significant scale up of production, which will supply both Australian and foreign markets, including Germany, the Czech Republic, and the UK where BLS has a strong foothold and sales team.”
Cann Group
Cann Group has received a A$3.48 million research and development (R&D) tax incentive rebate for FY23.
The rebate relates to eligible R&D activities conducted by the firm, including its in-house research and activities conducted through strategic partnerships.
Cann banked net proceeds of $1.92m after repaying early advances from R&D specialist Radium Capital.
The company said the funds will be used for the continued development of its end-to-end cultivation and manufacturing capabilities.
InhaleRx
InhaleRx has lodged an ethics application for a phase IIa clinical trial investigating the safety and efficacy of its IRX616a product in patients with panic disorder.
IRX616a is a drug-device product consisting of synthetic CBD delivered via inhalation in a fixed dose.
InhaleRX said data from the trial, which has three treatment arms of 36 participants each, will be critical in informing the design of a subsequent pivotal Phase III trial.
The ultimate goal is to achieve a New Drug Application with the US Food and Drug Administration for the product.
The firm said patient recruitment will begin subject to “subject to further planned capital raising”.
CEO Darryl Davies added: “We are confident that the trial design for IRX616a will be well received by the Bellberry HREC and the company is looking forward to measuring the effect that the drug-device combination product will have on participants suffering with panic disorder.”
X-Hemp
X-Hemp has raised more than A$1.5 million from almost 1,000 individuals via crowdfunding platform Birchal.
The 100% female-owned and operated Tasmanian firm processes environmentally-friendly, plant-based building products. Founder and managing director Andrea Lucas is also president of the Tasmanian Hemp Association.
X-Hemp told potential investors: “With ready-to-execute commercial contracts in hand, there are near-limitless opportunities for growth in this sector.
“We are perfectly positioned to take advantage of the strong demand for carbon-neutral building materials and other industrial products.”
Green Farmers/Elevated Signals
Green Farmers will deploy manufacturing software from Canadian firm Elevated Signals at its second greenhouse in New South Wales as it gears up for production in 2024.
The B2B medicinal cannabis producer has already used the technology at its Victoria facility to digitise and optimise inventory, quality, compliance and data management.
Green Farmers chief financial officer Matthew Turner said: “In order to scale our business effectively to meet demand, having our operational processes dialled in was imperative.
“Elevated Signals provided the tailored and dynamic solution we needed, and has become an indispensable tool in our growth journey.”
Elevated Signals CEO Amar Singh added: “Our ongoing expansion in Australia reflects our commitment to bringing unparalleled digital transformation to the cannabis industry globally.”
