New Zealand’s opposition leader Christopher Luxon has made positive comments about the country’s burgeoning medicinal cannabis industry during a visit to Helius Therapeutics’ facility in Botany, where he is the local MP.
Luxon, whose National Party opposed the legalisation of recreational use in the country’s 2020 referendum, said medicinal cannabis companies would play a key role in its economic recovery post Covid.
“It is great to see them leading the way in research and development, as well as now delivering premium, natural New Zealand products to patients here and soon overseas,” he added.
New Zealand medicinal cannabis firm Greenfern Industries (GFI) has reported strong sales in Australia, with more than 500 patients prescribed its medicine so far this year.
The company began distributing its GFI Pharma-branded oil tinctures through Australian partner Cannvalate in November 2021.
Since then, GFI has seen an average new patient increase of 42% month on month with an average return patient rate of 27%.
Managing director Dan Casey said the company had seen a significant uplift in prescriptions in May with the launch of its GFI Pharma CBD100 product.
Zelira has completed enrolment for a trial evaluating the efficacy and tolerability of its proprietary medicinal cannabis product in treating diabetic nerve pain compared to an unnamed “multi-billion dollar big pharmaceutical company drug”.
The international review board-approved trial has been designed as a multi arm, head-to-head comparison of 60 subjects with 20 subjects in each arm.
A total of 20 patients have been completely enrolled, with results expected by the end of the year.
CEO and managing director Dr Oludare Odumosu said: “We are very pleased at the rate of recruitment for this clinical trial and look forward to what we hope will be positive results.
“The value proposition of Zelira has always been our ‘multiple shots on goal’ strategy that covers both our OTC products and RX prescription products, that best positions our company for success, and that we continue to deliver on.”
Creso’s wholly-owned psychedelics company Halucenex Life Sciences has entered into a binding, exclusive supply agreement with Canadian psychedelics cultivator Optimi Health Corp.
Optimi produces and supplies natural, EU-GMP grade psilocybin and functional mushrooms for the health and wellness markets.
Under the agreement, Halucenex will initially test Optimi’s whole-dried mushrooms fruiting bodies to validate their quality and physical characteristics.
Creso said the agreement has the potential to provide Halucenex with a consistent and stable supply of EU-GMP grade psilocybin which, after testing, it will use for ongoing product development focused on post traumatic stress disorder (PTSD) and anxiety.
Halucenex is targeting the PTSD therapeutics sector, which is tipped to grow to US$10 billion by 2025.
Emyria has expanded its partnership with the University of Western Australia (UWA) to build and screen a proprietary MDMA analogue library.
So far, 85 compounds have been successfully screened, with several being prepared for preclinical testing to determine their therapeutic potential. The firm expects additional funding to help further expand the library.
Managing director Dr Michael Winlo said: “We’re proud to continue our support of the development, commercialisation and translation of this promising and unique compound library developed by Professor Matt Piggott and his team.
“Initial screening results have been very positive. In a short timeframe, we have identified several promising lead drug candidates which we are now advancing to preclinical screening.”
Winlo added the partnership was a core part of Emyria’s drug-development pipeline, complementing its ultra-pure cannabinoid program led by EMD-RX5.
Roto-Gro International’s wholly-owned subsidiary Roto-Gro World Wide Canada (RGWWC) has filed an assignment in bankruptcy pursuant to Canada’s Bankruptcy and Insolvency Act.
The firm told the ASX the assignment was precipitated by several factors including the suspension of all inter-company transfers to RGWWC, following the cancellation of funding negotiations between the company and its corporate advisor.
Rumanek and Company has been appointed the trustee in bankruptcy for RGWWC.
The Roto-Gro board is working with its strategic advisors to assess options, including the viability of vending a new asset into the company.