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Althea Group (ASX:AGH) - CEO, Joshua Fegan
CEO, Joshua Fegan
Source: The Green Fund
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  • Australian pharmaceutical company Althea Group’s (AGH) MyAccess Clinics has signed a memorandum of understanding (MOU) with an independent scientific committee, Drug Science
  • Drug Science is conducting the U.K.’s first national pilot, Project Twenty21, for medicinal cannabis
  • Under the agreement, Drug Science can refer patients to MyAccess Clinics for assessment by its prescribers
  • In addition to the agreement, MyAccess Clinics has reported strong growth and signed five new clinics
  • Althea is up 1.41 per cent on the market this morning, selling shares for 26 cents each

Australian pharmaceutical company Althea Group’s (AGH) MyAccess Clinics has signed a memorandum of understanding (MOU) with Drug Science.

Drug Science is an independent scientific committee, which is conducting the United Kingdom’s first national pilot, Project Twenty21, for medicinal cannabis. Project 21 aims to enrol 20,000 patients before the end of 2021.

Under the agreement, Drug Science can refer patients to MyAccess Clinics for assessment by its prescribers. As a result, MyAccess Clinics’ prescribers will be able to provide assessment services for the Project Twenty21 products.

In addition to the agreement, MyAccess Clinics has reported strong growth and has signed five new clinics, which will bring the total number of clinics up to seven.

Over the past two months, the MyAccess has seen the number of web-based enquiries nearly double, increasing from 339 to 637. There is also a significant rise in month-on-month patients consultants, which are up 50 per cent over the same period.

CEO Josh Fegan is pleased with the progress MyAccess Clinics is making in the U.K.

“Project Twenty21 will not only create additional patient consultation opportunities for our clinics, but will also yield valuable data that can be used to strengthen the case for wider use of cannabis-based medicines and the need for reimbursement through the National Health Service (NHS),” he said.

“We are excited to be participating in the project and are pleased to see U.K. patients gaining increasing access to Althea’s high-quality medical cannabis products,” he added.

Althea is up 1.41 per cent on the market this morning, selling shares for 26 cents each at 11:24 am AEST.

AGH by the numbers
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