Proactive Investors - Run By Investors For Investors

AusCann Group secures supplier of cannabis resin for upcoming manufacturing

AC8 has all the necessary licenses to grow and manufacture cannabinoid medicines in Australia.
medical cannabis concept
The company's first product line is medicinal cannabis hard shell capsules to treat chronic pain

AusCann Group Holdings Ltd (ASX:AC8) has entered into a supply agreement to purchase cannabis resin from MediPharm Labs Corporation (TSXV:LABS) (OTCQB:MLCPF).

The high-grade cannabis resin will primarily be used in the manufacture of AusCann’s first product line of hard-shell cannabinoid capsules.

MediPharm is Canada’s largest and most experienced supplier of purified, pharmaceutical grade cannabis extracts.

Its state-of-the-art facility is one of the most innovative and technically advanced in the cannabis industry.

First supply under the deal is set to commence in the coming months.

READ: AusCann Group on track to produce cannabinoid medicines this year

AusCann’s interim CEO Dr Paul MacLeman said: “Reliable supply of pharma-grade cannabinoid extracts through MediPharm’s proprietary methodologies will support AusCann’s ability to develop and deliver quality cannabinoid medicines.

"Critical for the company are repeatability in manufacturing, reliable dosing, and purity assurance.

“These product foundations will allow delivery of effective, trusted and safe medicines for the treatment of chronic pain.”

Plans for multiple suppliers to lower risk

AusCann is working towards securing a small number of validated, safe and reliable sources of cannabis resins as ongoing inputs into its pharmaceutical product development, clinical trials and product sales activities.

This multi-supplier strategy mitigates and reduces supply risks and enables AusCann to work efficiently with specialists in different types of extracts across a number of jurisdictions.

It also supports AusCann’s focus upon novel dose form development to optimise patient outcomes and create valuable pharmaceutical products for the Australian and export markets.

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full AC8 profile View Profile

AusCann Group Holdings Ltd Timeline

Related Articles

cannabis tablet
March 01 2019
The company fills a niche in the medicinal cannabis market, as it continues to push forward its suite of precision oral dose products
cannabis flower
April 27 2019
The company's footprint continues to grow as it focuses on becoming a globally recognized house of brands with a broad portfolio of clients across North America
medicinal cannabis concept
January 31 2019
Zelda has released its December quarterly report confirming multiple trials are on track.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use