- Bod Australia has entered a Head of Agreement with UK Specials medicine manufacturer PCCA, to import and distribute its [Bod's] product, MediCabilis, throughout the UK
- MediCabilis is being prescribed to treat several conditions such as pain relief, neurological conditions, anxiety, stress and gastrointestinal diseases
- First prescriptions to the UK are expected in the upcoming months
Bod Australia has signed a Heads of Agreement with UK Specials medicine manufacturer PCCA, to import and distribute Bod's pharmaceutical hemp products, MediCabilis throughout the UK.
MediCabilis is being prescribed to treat several conditions such as pain relief, neurological conditions, anxiety, stress and gastrointestinal diseases.
In June this year, it was picked up by research partner Cannabis Access Clinics for a 12-month trial to test the effectiveness in post-traumatic stress disorder (PTSD). Successful results will prompt further development, commercialisation and licensing opportunities.
PCCA is a leading UK Specials and Medicines and Healthcare products Regulatory Agency (MHRA). The company manufactures a wide range of unlicensed or specials medicines to an extensive portfolio of hospitals, pharmacies and other clinics across the UK.
Specials medicines are specifically manufactured or obtained to meet a patient's individual clinical needs. They are made or imported under the European Good Manufacturing Practice standards to ensure patients receive the highest quality products.
The importing process is currently underway and Bod expects to receive first prescriptions in the upcoming months.
Bod is witnessing considerable growth in patient numbers for its medicinal hemp product domestically and is confident the UK will strengthen its revenue profile.
"This agreement provides Bod with a strong foundation for growth in the United Kingdom and progresses the Company's rapid European expansion," Bod CEO Jo Patterson said.
"The UK is an important strategic market entry for the Company and an important one for growth, estimated to be worth €8.8 billion by 2028."
Bod shares are slightly down 2.24 per cent at 1:06pm AEST trading for 65.5 cents with a market cap of $56.45 million.