Australia is quickly becoming a home base for cannabis companies looking to take advantage of recently legalized medical marijuana. Coupled with favorable opportunities for listing on the Australian Securities Exchange (ASX), and Australia is rapidly becoming a hot spot for cannabis innovation and investment.
Medical Cannabis was rescheduled in 2016 making it no longer fall under the most stringent of schedules, reserved for dangerous drugs (similar to Schedule 1 in the U.S.). This means that medical products containing marijuana are now eligible for listing on the Australian Register of Therapeutic goods - making them accessible with a prescription
The states retain the right to determine if the drug will be allowed, the people who are permitted to use and dispense it and the appropriate form and dosage.
It remains illegal to grow or use cannabis for recreational purposes
AusCann Group Holdings Ltd. is engaged in medicinal cannabis research in Australia and cannabis cultivation projects around the world. They are establishing a joint venture with Chilean entity Fundación Daya for the cultivation and manufacturing of medicinal cannabis products in Chile.
MGC Pharmaceuticals is a medical and cosmetic cannabis company. They have a license to cultivate cannabis in Solvenia and recently harvested their first test crop. On the cosmetics side, they currently sell CBD anti-aging skincare products in California, Canada and the European Union.
Zelda Therapeutics is conducting research and clinical trials relating to medical uses of cannabis and its derivatives. The company is in the pre-clinical stages of investigation for the indications of cancer, acute wounds and burns. Through their partnership with California dispensary, Aunt Zelda they are conducting stage two clinical trials for chronic wound healing, eczema, acne and post-burn itch.
Botanix Pharmaceuticals Ltd. (ASX:BOT)
Botanix Pharmaceuticals operates in the pharmaceutical sub-sector of the cannabis industry. They have the exclusive global rights to a transdermal drug delivery system known as Permetrex™ for a class of active ingredients including cannabinoids. Their pipeline currently consists of synthetic CBD delivered using the Permetrex™ transdermal system for the treatment of severe acne, psoriasis and eczema.
Creso Pharma is a developer of nutraceutical products derived from cannabis for both human and veterinary use. They have a license to grow industrial hemp in Slovakia, that their subsidiary Hemp-Industries uses to manufacture CBD drops and hemp oil. Additionally, the company plans to use this existing grow operation to conduct further agronomic research and to supply product for their upcoming therapeutics line.
Medlab Clinical Ltd. (ASX:MDC)
Medlab Clinical presently sells non-cannabinoid nutraceutical products and is in the early stages of research to develop pharmaceuticals for a range of indications. They are in the pre-clinical stage of development with two cannabis derivatives for non-opioid pain management.
MMJ Phytotech is a diversified, global cannabis company. One of their subsidiaries is United Greeneries, Canadian licensed producer of medical marijuana. They also distribute cannabinoid dietary supplements in Europe and beyond through their subsidiary SatiPharm AG. On the pharmaceutical side, they are conducting pre-clinical studies of a 1:1 ratio THC and CBD gel capsule for the treatment of pain and spasticity associated with Multiple Sclerosis.
Note: MMJ Phytotech is currently finalizing a reverse takeover transaction with Harvest One to list their core Cannabis subsidiaries (Namely, United Greeneries and SatiPharm AG) on the TSX venture exchange.
For more coverage of the Australian cannabis industry, be sure to check out our newly launched Australian Marijuana News section.
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