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Bod Australia secures supply deal for medicinal cannabis extracts

Leading pharmaceutical company Biopharma will develop a wafer style delivery method.

Cannabis plant
The shares surged 46% on Thursday to a 12 month high of $0.63

Bod Australia Ltd (ASX:BDA) will supply a range of medicinal cannabis extracts to leading pharmaceutical company iX Biopharma (SGX:42C).

The company, which develops and distributes natural, evidence-based cosmetics and natural medicines, has signed an exclusive manufacturing and commercialisation agreement.

Cannabis wafer product

Biopharma will use the extracts, which include oils and raw materials, to develop and commercialise a cannabis wafer product utilising its patented WaferiXTM delivery method.

The product will then be used in Bod’s Phase I clinical trials.

Biopharma’s WaferiXTM technology consists of a small wafer, formulated using a proprietary freeze-drying process.

Rapid absorption of compounds

The wafer, which is intended to be placed under the consumer’s tongue, dissolves within one minute, releasing contained active compounds for rapid absorption.

Administering the wafer is tolerable with no after-taste, leaving behind no residue or grittiness under the tongue preventing the urge for recipients to swallow.

The wafer style drug delivery method will be manufactured through Biopharma’s wholly-owned Australian subsidiary, iX Syrinx Pty Ltd.

Manufacturing will be in Melbourne

This will take place in a Therapeutic Goods Administration and Good Manufacturing Practice approved pharmaceutical manufacturing facility in Melbourne, Victoria.

Bod expects this will expedite the commencement of clinical trials and defray any import risks.

The company is investigating further ways to advance the clinical trial design to reduce time to market and save costs.

Quick facts: Bod Australia Ltd

Price: 0.23 AUD

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