Australian Natural Therapeutics Group
Australian Natural Therapeutics Group (ANTG) has released its first CBD oil, claiming the product is the “most affordable medical cannabis oil on the market”.
CEO Matt Cantelo told Pharmacy Daily the pricing of the locally made Elan CBD100 oil — available for A$174 for a 30ml bottle — honoured a “commitment to improving affordability for families”.
He added: “Six months ago we made a promise to the public that we would pass on cost savings as we expanded the business. We are following through with our commitment by offering cannabis oils at the lowest price point in the market, alongside price drops in premium flower.”
Zelira Therapeutics recorded record cash receipts of A$311,000 in the June quarter, up 38% on the previous quarter.
The company, which ended the financial year with $4.97 million in the bank, attributed the performance to growing sales of its SprinjeneCBD toothpaste range, clinical trial management and product licensing fees from partner Levin Health.
Managing director Dr Oludare Odumosu said: “This growth demonstrates our ability to ramp up commercialisation with a focus on generating revenue from both over-the-counter products as well as our prescription licensing and clinical trial programs.”
Zelira is progressing additional licensing discussions for its cannabinoid medicines Hope (for autism) and Zenivol (for chronic insomnia) in the US while looking to expand distribution in other global markets including Germany and the UK.
Creso Pharma’s Canadian subsidiary Mernova Medicinal is introducing 14 new cannabis strains secured from a Health Canada licensed supplier.
Stockhead reports four of the new strains were obtained in live plant form and have a claimed THC content of between 20 and 34%, enabling Mernova to target consumers looking for more potent product.
Mernova managing director Jack Yu said: “We acquired these new strains to ensure our competitiveness now and into the future. We have been seeking new genetics for a while, so to be able to acquire strains of this quality is very exciting.”
Cannasouth has raised NZ$4.5m from a Share Purchase Plan and retail offer, with a further $1.5m needed to buy out the remaining shares in its cultivation and manufacturing joint venture businesses.
In July, the company announced it was seeking to raise up to $6m to take full ownership of Cannasouth Cultivation and Midwest Pharmaceutics NZ. It will now seek to raise the remaining $1.5m before September 30.
Chairman Tony Ho said: “We wanted to provide our shareholders and the public with the opportunity to participate in the first phase of the capital raising initiative. We are pleased with the positive support received, given the current environment.
“We will now move to complete phase two of the capital raising initiative by seeking to raise the remaining $1.5 million of new capital, and to then complete the acquisition of the outstanding 50% of Cannasouth Cultivation Limited following the completion of that capital raising initiative.”
Queensland-based medicinal cannabis company Medibis opens its crowd-funding offer today (August 3, 2021) with the company hoping to raise A$1 to 2 million to launch a range of cannabinoid formulations via global partner BOL Pharma.
Co-founders Angus Chapel and Andrew Calvert told The Green Fund more than 850 investors have expressed interest in backing the company, which eventually plans to build a multimillion-dollar production facility near Toowoomba.