MGC Pharma/Extrax
European cannabis extracts company Extrax is now supplying its CBD-based vape product to the Australian market, in partnership with MGC Pharma.
The pre-filled vape will be listed as an unapproved therapeutic good available on prescription from a medical practitioner under “Category 2: CBD dominant medicinal cannabis product”.
MGC Pharma will import and manufacture the Extrax vapes, which contain hemp extracts with 80% cannabinoids.
MGC Pharma CEO Roby Zomer told Stockhead: “As the importer and manufacturer of Extrax pre-filled vapes in Australia, this becomes the latest addition to MGC Pharma’s extensive pharmaceutical and consumer product range.
“Our range is growing in size and quality, and this heralds a new future of cannabis consumption both in-country and further afield,” he added.
Epsilon Healthcare
Epsilon Healthcare has completed a A$2.9 million capital raise, $900k more than its initial minimum target.
It has also solidified its balance sheet position by extending a $3.6m debt facility with Mitchell Asset Management until October 2022 and told Stockhead it expects to be earnings positive next year.
The company will use the funds for further growth initiatives including expanding production capabilities at its Southport facility and investing in its Tetra Health clinic network.
Auscann
Auscann has held a positive pre-submission conference meeting with the US Food and Drug Administration to discuss the development and regulatory pathway for its cannabinoid-based veterinary medicine CPAT-01.
CPAT-01 is used to manage pain and inflammation in dogs with osteoarthritis, a market the company says is worth US$1 billion globally.
The company has also submitted its final regulatory data modules to the Australian Pesticides and Veterinary Medicines Authority (APVMA) for DermaCann, an oral cannabinoid-based product for skin health in dogs.
The data in the modules comes from research on the product including a randomised placebo-controlled study in dogs with atopic dermatitis which demonstrated a reduction in lesions.
If approved by the APVMA, DermaCann will become the first regulatory approved medicine containing cannabinoids available on prescription for vets in Australia.
Auscann CEO Layton Mills said: “Completing our final DermaCann regulatory submissions is the culmination of over three years of hard work and is a pivotal milestone for Auscann.”
Roots Sustainable Agricultural Technologies
ASX-listed Roots Sustainable Agricultural Technologies has secured firm commitments to raise A$1 million via a placement.
CEO Boaz Wachtel said: “We are very pleased to have secured such strong interest… from a range of new and existing shareholders.”
The funds will be used to broaden the company’s global footprint and boost sales.
Wachtel added: “As we continue to witness an increased push towards net zero, there has been an increased interest in our solutions.”
The Sustainable Nutrition Group
The Sustainable Nutrition Group (TSN) has entered a trading halt as it plans an upcoming capital raise. It is not known how much the company is planning to raise or for what purpose.
Shares will be paused until Friday December 17 or when further information on the raise is released to the market.
The move comes after TSN signed an agreement with Australian Plant Proteins (APP) to develop a hemp concentrate and isolate.
Emyria
Emyria has received a positive preliminary result from a pre-clinical head-to-head animal study comparison of its proprietary cannabidiol formulation (EMD-003 capsule) to Epidyolex oil, the first cannabidiol-only medicine registered on the ARTG.
According to the study, EMD-003 had a greater peak concentration and improved bioavailability compared to an equivalent dose of Epidyolex over a 24-hour period.
Emyria is targeting a schedule 3 registration with the TGA for EMD-003 in 2022, with clinical trials due to commence in Q1 2022, starting with a Phase 1 healthy volunteer trial which will again use Epidyolex as a comparator.
Emyria managing director Dr Michael Winlo said “We’re delighted to receive positive bioanalysis results for Emyria’s proprietary formulation of an ultra-pure CBD capsule. We were eager to evaluate the bioavailability of our formulation compared to the only successfully registered and reimbursed CBD oil in the market to date, Epidyolex.
“These results also give us the confidence to launch additional cannabinoid registration programs with the TGA and FDA based on the underlying formulation approach, and we look forward to providing more updates on EMD-003 and additional registration programs in the near-term.”
