MGC Pharmaceuticals Ltd (ASX:MXC) has signed a binding partnership agreement with the Royal Melbourne Institute of Technology (RMIT) and The Hebrew University of Jerusalem (HUJ) to form a joint international medical research hub for medicinal cannabis innovation and technologies.
As an extension to MGC’s existing collaboration with RMIT, the new research hub, to be known as CannaHub, is a collaborative centre between MGC, RMIT and HUJ and will be an international shared library of research, data and analytics on medicinal cannabis and its uses including future medical applications and treatments.
The agreement represents a landmark achievement for MGC. The formation of CannaHub is the first time RMIT or HUJ has partnered with a private company to form a research institute in this sector.
CannaHub’s research projects will initially focus on three key areas in the use of medicinal cannabis, being the treatment of cancer, the effectiveness of traditional and medicinal cannabis combination treatments and drug delivery systems with technological elements.
Importantly, the results from the research project is expected to strategically position MGC as a leader in the cancer research and technology-based drug delivery space, enabling the company to develop and leverage its commercial interllectual property (IP) for the production of new medicinal cannabis products, applications and technologies.
“Collaboration is going to be crucial for this industry to grow the correct way”— MGC Pharmaceuticals (@MGC_Pharma) November 8, 2018
Listen to this session led by Dr Nitin Mantri of RMIT and Ron Lipsky of MGC Pharma on ‘Cannabusiness and Academia: Building For The Next Generation’.https://t.co/8A0GW4Lgli
MGC co-founder and managing director Roby Zomer said: “We are very pleased to announce the completion of our formal collaboration and partnership agreement with RMIT and HUJ to launch CannaHub.
“CannaHub is designed to advance world leading research and push forward innovation within the medicinal cannabis pharmaceutical market.
“We look forward to working with the teams at RMIT and HUJ and delivering ground breaking results in the future.”