Biortica Agrimed takeover target Bod Science generated medicinal cannabis sales of A$1.48 million in FY25, up 70% on the previous year, with the company reporting an after-tax profit of $259,000.
But Bod, which has spent nearly two years in administration, still has liabilities of $5.15m, its financial report states, with the bottom line bolstered by a research and development tax incentive of $677,000 and $1.17m of cash provided by Biortica.
The company said 73% of its revenue was generated by THC products while sales of its MediCabilis CBD range fell away as it switched focus to THC flower.
The growth in sales was also attributed to an expansion of its number of distribution partners from two to five during FY25.
Addressing the protracted reverse takeover (RTO), the report confirmed that certain conditions must be met by Biortica no later than October 30 for the deal to proceed.
It also confirmed that should the RTO fall through, Biortica has indicated it will continue with its plans to acquire Bod.
Should that not proceed, “the company would likely go into liquidation”, the report said.
Beacon Medical
Beacon Medical has released metered-dose inhalers into the Australian medical market in a move it says will provide “peace of mind” for doctors and patients.
Four dosage formulations have been launched, each containing 100 administrations; a CBD isolate, CBD dominant, CBD/THC balance and THC dominant.
They have been manufactured by at MediPharm Labs GMP facility in Canada.
Beacon said the products offer a fast-acting “discrete, convenient and accurate inhaled dose of cannabinoid medicine”.
“Current unapproved combustible dried herb and oral inhaled formats do not offer the clinician and patient piece of mind that the inhaled dose they are taking is measured. These new inhalers do.”
Ananda Clinics/Releaf
Releaf Clinics and Dispensaries has confirmed Ananda Clinics will be rebranded under the Releaf name, with patients moved into the Releaf system over the coming weeks.
The move follows the acquisition of Ananda by Flora Holdings – the joint venture between Vitura Health and Crisci Group – with the company stating patients would continue to access prescribing services through their Ananda doctors during the transition.
Releaf also announced plans to open a new clinic and dispensary in Byron Bay, where Ananda is based, in November.
EncapSolutions
Australian natural health tech, EncapSolutions, is seeking fresh investment to drive product expansion in the US and to fund the launch in Australia of a medicinal cannabis patch.
The firm is looking to raise US$2m (A$3m) with a view to broadening its reach across the Pacific and entering the local medical market in 2026.
The next phase of EncapSolutions’ development comes after it launched the first of three skincare CBD products – SkinSync Natural Health patches – at Newtopia, a wellness show in Denver.
Chief executive Chris Barbe said the US launch followed three years of “disciplined R&D”.
“Three years might sound like a long time but in high-tech product development, it’s lightning speed,” he said. “We built this platform from the ground up, without compromise, to ensure both integrity and scalability. For EncapSolutions, this launch earmarks the crucial first step toward unlocking a much larger global wellness market.”
The company said the capital raise was necessary to increase production capacity and to grow its marketing and sales efforts.
It is also working towards GMP certification of its production facility in Sydney ahead of the launch of medicinal cannabis patches next year.
“We are currently looking for investment to achieve those two goals and offering substantial returns to investors willing to invest in a rapidly expanding business,” the company said.