Creso Pharma acquisition target, Health House International, has reported customer receipts of almost A$6 million in the three months to March, up 9.5% on the previous quarter.
The result took its nine-month total to $16m, 46% higher than the previous corresponding period.
It suffered a net cash loss in the quarter of $255,000, rising to $2.2m for the financial year to date.
The distributor described sales as “robust”, particularly in Australia, despite regulatory changes, supply shortages and funding constraints.
Health House said it was in talks with potential new suppliers to bring “innovative products into Australia”, adding it was on track to comply with the new TGA GMP requirements on July 1.
Meanwhile, the company confirmed that a shareholder meeting to discuss the proposed acquisition by Creso will take place on May 2. The two firms have executed a scheme implementation deed.
“We continue to work with Creso towards the integration following the proposed merger,” Health House chairman David Wheeler said. “We remain optimistic what the combined group will be able to achieve.”
Little Green Pharma
Little Green Pharma (LGP) has delivered its first shipment of high-THC flower to German wholesaler Ilios Santé following a deal struck between the firms last year.
Under the two-year agreement, Ilios must purchase minimum quantities worth around A$2.3 million. More than three quarters of the strain will be shipped from LGP’s Danish facility during the second year of the deal.
It is the second LGP shipment delivered to Germany from Denmark in recent weeks. In February, it exported 30kg of high-THC flower to Demecan.
LGP said the long lead time between striking commercial terms with Ilios Santé and delivery of the first shipment was due to strict quality regulations required in sending flower to Germany.
Incannex Healthcare
Incannex Healthcare has appointed bioanalytical firm Quest Pharmaceutical Services (QPS) to manage clinical trials for its addiction and skin disease medications.
QPS is drafting pre-investigational submissions for both the European Medicines Agency and the US Food and Drug Administration for Incannex’s CannQuit and ReneCann products.
CannQuit is a chewing gum containing CBD and nicotine that Incannex believes will be superior to the current nicotine-only gum already available to help people quit smoking.
A second medication, CannQuit-Opioid, contains CBD and an opioid antagonist in a chewable tablet designed to treat opioid addiiton.
ReneCann, meanwhile, is a cannabinoid formulation containing CBG and CBD for the treatment of dermatological conditions caused by disorders of the immune system.
Incannex managing director Joel Latham said: “QPS is the perfect fit for us to develop these products across the globe. Not only will QPS assist us in conducting clinical research, it has been engaged to advise upon the quickest route to commercialising the products in different regulatory jurisdictions.”
Emyria
Emyria and psychiatrist-led medical practice PAX Centre have announced plans to develop a care model for psilocybin-assisted therapy in additions to their existing MDMA-assisted therapy care model.
The collaboration aims to address the “substantial overlap” between symptoms of depression and PTSD – conditions with growing prevalence – by expanding treatment offerings available for patients with either or both.
Psychiatrist, MDMA researcher and recently appointed teaching faculty at Mind Medicine Australia Dr Ben Sessa has been engaged to provide therapist training across MDMA and psilocybin.
Emyria is aiming to establish a network of trained therapists and psychiatrists to provide MDMA-assisted therapy to appropriately diagnosed patients from July 1, 2023 through ethics-approved clinical trials and the Authorised Prescriber scheme.
The firm said collaborating with a psychiatrist-led medical practice would improve patient safety and enable the collection of real-world data to support ongoing care innovation and drug development.
Managing director Dr Michael Winlo added: “We are excited to extend our collaboration with the experienced trauma specialists at the PAX Centre to develop a psilocybin-assisted therapy model for major depression to complement our MDMA-assisted therapy that is already well advanced.
“The generalist training provided by Dr Ben Sessa supports our mission to create innovative and effective mental health care models within community psychiatry as well as our goal to generate high-quality clinical data.”
