- Cann Global (CGB) is launching six medicinal cannabis products into Australia through its joint venture with Canada-based Canntab Therapeutics
- The companies partnered up in January 2018 to import and distribute hard pill cannabinoid formulations throughout Australia
- The range includes two tetrahydrocannabinol (THC) products, two cannabidiol (CBD)-only products and two THC/CBD blends
- On top of the launch, Cann Global has entered an agreement with Applied Cannabis Research (ACR) to provide it with a grant to support the Cannabinoid Medicine Observational Study
- The study will collect data from 20,000 Australian patients to assess the safety and efficacy of the Canntab products
- Cann Global's shares have soared 30 per cent on the back of this news, to trade for 0.7 cents
Cann Global (CGB) is set to launch uniquely-formulated medicinal cannabis products under the Canntab range into Australia for the first time.
The launch comes under Cann Global's 50:50 joint venture partnership with Canada-based Canntab Therapeutics. The pair partnered in January 2018 to import and distribute hard pill cannabinoid formulations throughout Australia.
Pleasingly, Cann Global has also confirmed receiving an import permit and an initial order for the products has been made. A total of six products out of the Canntab range are being imported for distribution across Australia.
"We are very excited to progress the launch of CannTab’s innovative cannabis-based tablets in Australia which we expect will be very sought-after by doctors who are looking to prescribe pharmaceutical grade medicinal Cannabis products to their patients," CGB Managing Director Sholom Feldman said.
The range includes two tetrahydrocannabinol (THC) products, two cannabidiol (CBD)-only and two THC/CBD blends.
Further, the CBD products may benefit from the Therapeutic Goods Administration's (TGA) proposed amendment to create a new Schedule 3 entry for CBD. This will allow greater access to CBD products.
In early September, the TGA released a notice regarding the potential amendment to the current Poisons Standard for CBD. The amendment allows Australian patients to buy CBD products after a consultation with a pharmacist without needing a prescription. The TGA has announced June 1, 2021, as the proposed implementation date.
On top of the Australian launch, Cann Global has entered a grant agreement with Applied Cannabis Research (ACR). CGB will provide a grant to ACR to support the Cannabinoid Medicine Observational Study (CMOS) on Canntab's hard pill cannabinoid formulations.
Under the study, CMOS will collect data from 20,000 patients across the country to assess the safety and efficacy of the products which will be supplied through CGB's joint venture with Canntab.
Significantly, this marks the largest observational study that has ever been undertaken in Australia for medicinal cannabis products. The study will capture data from a broader range of Australian prescribers and patients than in existing studies.
Cann Global's shares have soared 30 per cent on the back of this news, to trade for 0.7 cents in early morning trade.