Aurora Cannabis and MedReleaf Australia have launched a new range of higher-THC dried cannabis products for patients qualified under the MedReleaf Concession Scheme (MCS).
Aurora Cannabis CEO Miguel Martin said: “We are proud to further expand the variety of high-quality medical cannabis products that Australian patients can access through the MCS.
“With the addition of IndiMed Tempo 26, doctors and patients now have more control and choice about their medical cannabis treatment than ever before. We are strongly committed to our patient-first approach to cannabis and ensuring access to medical patients, in Australia and around the world.”
The MCS was developed by MedReleaf and Aurora to enhance patient access to medicinal cannabis via compassionate pricing, specifically for those with pensioner concession, commonwealth seniors health, health care and veterans Cards.
MedReleaf CEO Russell Harding added: “We have been able to provide heavily discounted products via our MedReleaf Concession Scheme, which widens the choice for prescriptions and significantly improves access for disadvantaged Australian patients struggling with debilitating health conditions.”
Aurora currently holds a 10% ownership stake in MedReleaf Australia.
Vitura Health
Vitura Health has received a shareholder notice from Matua Jansen, as trustee for the Whanau Family Trust, requesting an extraordinary general meeting to consider a proposed resolution for a one cent fully-franked interim dividend.
Upon receiving the notice, Vitura informed the trustee that the proposed resolution considered matters that could not be affected by shareholders in a general meeting and provided the opportunity to withdraw, which was not taken.
The company then declined to call the meeting, insisting the declaration and payment of dividends were within the exclusive powers of its directors.
MGC Pharma
MGC Pharma’s CannEpil treatment for drug-resistant epilepsy is now available in the UK by Named Patient Request.
The high-CBD, low-THC formulation is administered via an oral mucosal solution and is currently undergoing a clinical development program.
UK clinicians listed on the General Medical Council specialist register can now prescribe the medicine, a move MGC Pharma said expands its reach in the healthcare and life science sectors as “an innovative, plant-inspired pharmaceutical company”.
CannEpil has been prescribed to patients in Australia and Ireland for the past three years.
The availability of CannEpil in the UK follows the company’s announcement that it is providing the product for an observational trial supported by the I am Billy Foundation.
The data collected from patients using the medicine will be used to further evaluate its safety and efficacy, supporting future submissions.
Managing director Roby Zomer said: “The availability of CannEpil by Named Patient Request marks a momentous breakthrough for MGC Pharma. The product will now be available to a wide cohort of specialist medical practitioners in the UK, which is testament to the progress we are making.”
“We are extremely proud of the progress we have achieved thus far, and we are pleased that CannEpil has been selected as a treatment within an observational patient trial in association with the I am Billy Foundation. We look forward to updating the market on the results of this trial in due course.”
Meanwhile, the firm is set to receive almost £3.7million (A$6.91m) in new funding via a placing of new shares worth £1.2 million, up to £630k in backing from specialist cannabinoid investor Cantheon Capital, up to £1.1m from an Australian government R&D rebate and a broker option worth up to £750,000.
Funds will be used to progress the firm’s clinical pipeline including a phase IIb clinical trial of CannEpil.
UPDATE (April 14, 2023): MGC Pharma has now closed its fundraising round, conditionally raising up to £2.09 (A$3.82m) before expenses.
Rua Bioscience
Rua Bioscience has submitted its first medicinal cannabis dossier to the Polish Office for Registration of Medicinal Products.
The dossier, the first step in what the firm estimates will be a 12 to 18-month access process, was prepared by Rua’s regulatory team and its Australian manufacturing partner Cann Group.
The Polish medicinal cannabis market was established in 2017 and is one of the largest and fastest-growing in Europe, showing consistent double-digit growth. Rua said it could be worth NZ$92 million by the end of the year.
CEO Paul Naske said: “Poland is a very tricky market to enter, but presents a significant opportunity for those with access”, adding the submission had given the firm “early-mover” advantage.
Rua recently announced it was ceasing local GMP manufacturing and turning its focus to building an “international product pipeline”.
“As we enter high-value international markets, steps like this will become more commonplace,” said Naske. “But the submission of our first dossier in Poland demonstrates a tangible commitment to our export strategy and to create a sustainable international business.”
