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THC Global signs medicinal cannabis product supply deal with MGC Pharma

Canndeo product range to be supplemented with MGC Pharma products as Southport Facility production scales up to meet demand under white-labelling agreement.

THC Global Group Ltd - THC Global signs medicinal cannabis product supply deal with MGC Pharma
THC’s Canndeo branded medicinal cannabis product range launching in Q1 2020

THC Global Group Ltd (ASX:THC) has signed a supply agreement for formulated medicinal cannabis products with MGC Pharmaceuticals Ltd (ASX:MXC).

Under the Agreement, MGC Pharma will provide THC with an immediate supplementary source of medicinal cannabis products, which will be packaged and made available to patients under the Canndeo brand.

THC expects to launch these products in Australia and New Zealand through Q1 2020.

THC chief executive officer Ken Charteris said: “Our agreement with MGC Pharma provides THC Global with an immediate extension of our Canndeo branded medicinal cannabis product range, as well as a pathway for further collaboration with MGC Pharma taking advantage of THC Global’s Southport Facility – the largest pharmaceutical bio-floral extraction facility in the Southern Hemisphere – and MGC Pharma’s Maltese facility.

"We look forward to taking advantage of our market development activities in Australia, New Zealand, Canada, and Asia as we launch this new product range over the course of the next two months.”

Scaling up supply

The agreement also provides for MGC Pharma and THC to collaborate on the future supply of active pharmaceutical ingredients (API) extracts as well as other finished product, including from THC’s Southport Facility.

Accessing an immediate supplementary source of medicinal cannabis products, enables THC to scale up its supply to patients quicker, and offer patients a broader initial product range under the Canndeo brand.

The agreement with MGC Pharma also provides THC with access to tetrahydrocannabinol (THC) containing formulations complementing the company’s current focus on producing cannabidiol (CBD) extracts and increasing flexibility to offer new formulations of products.

Australian produced cannabis

Initially, THC will launch three oral liquid formulations in partnership with MGC Pharma (high CBD + low THC, balanced CBD + THC, and high THC low CBD).

These products are expected to be available for patients in Australia and New Zealand in Q1 2020.

As THC Global scales up production at its Southport Facility – the largest pharmaceutical bio-floral extraction facility in the Southern Hemisphere – the company will transition its Canndeo formulations to using its own Australian produced cannabis.

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