Montu is raising more capital via equity crowdfunding platform Birchal following a successful A$2 million raise last year.
The company said it has seen a 10-fold increase in prescriptions over the past 12 months, with annual revenue growing by 1,000% to reach $10 million.
It added growth has been fuelled by Australia’s adoption of healthcare technology during Covid-19 and the company’s own alternaleaf telehealth service.
Managing director Christopher Strauch said the platform meant the company “can now service every Australian”.
Plant-based nutraceutical company Live Verdure has reported 96% growth in online sales to A$323,000 for the September quarter and a 56% increase in total orders compared to the previous quarter.
The company attracted 72% new customers during the reporting period and has now achieved four consecutive quarters of online revenue growth since it listed on the ASX in December 2020.
Live Verdure is the parent company of direct-to-consumer food and wellness brand 13 Seeds, which uses Tasmanian hemp as its main ingredient. It also oversees soon-to-launch skincare brand 8 Seeds, led by former L’Oreal Australia managing director Mark Tucker.
AusCann has issued a market update, telling the ASX it is well funded, with A$12.5m net cash as at September 30, 2021. Operating outflows totalled $1.16m for the quarter, with $788k (67%) related to research and development.
The company said it reduced administration and corporate costs by an additional 28% versus the prior quarter, following a quarter-on-quarter reduction for the previous three periods.
It attributed the savings to “operational efficiencies post the merger with CannPal and a more fit-for-purpose company, unburdened by non-strategic, loss-making operations”.
Cann Global has announced a A$1.8 million share placement, issuing 600 million shares at 0.3c per share.
The proceeds will be used for working capital and to support expansion initiatives across existing operations.
Managing director Sholom Feldman said the move came following “strong (and unsolicited) investor interest”.
MediPharm Labs has completed its first shipment of cannabis oil to German partner Vayamed from its GMP facility in Victoria.
CEO Asia Pacific Warren Everitt said the move “further demonstrates the value provided by our Australian business, which is already becoming a key asset for the company as it continues to ship GMP product to a growing international market”.
Zelira Therapeutics achieved record quarterly receipts from customers in the quarter ending September 30, with A$362,000 representing a 16% increase on Q4 FY21.
The company said the growth was fuelled by sales of its SprinjeneCBD toothpaste range, and consulting payments.
Zelira has also announced the opening of a new pathway to develop pharmaceutical-grade CBD capsules and tablets using its proprietary Enhanced Distillate Capture and Dissolution Matric (EDCDM) technology.
Global managing director and CEO Oludare Odumosu said: “We strongly believe that the cannabinoid-based medicine market will scale up significantly when the ability to consistently formulate, validate and commercialise dosage forms that closely resemble current pharmaceutical drugs and in formats such as capsules and tablets becomes available.”
Additionally, the company has signed a US$1 million foundation licensing deal with DRCN Holdings for its EDCDM proprietary technology.
The EDCDM technology solves a non-uniformity problem of CBD distillate separating from the powder bed when attempting to create capsules and tablets.
Canopy Growth-owned Storz & Bickel has launched a new vaporiser device in Australia, an enhanced version of its ‘Mighty’ product.
The Mighty+ Medic is available for A$479 and features technical enhancements including a USB-C socket with super-charge functions and optimised heater with pre-set temperature capabilities, engineered to heat vapor in 60 seconds.