ASX-LISTED pharmaceutical cannabis company Creso Pharma has signed a binding Letter of Intent with Australian medicinal cannabis producer LeafCann Group to accelerate the development and commercialisation of locally manufactured medicinal cannabis.
Creso marked a milestone earlier this month when it imported the first medicinal cannabis products into Australia (PD 03 May).
Through the new strategic agreement, LeafCann will supply Creso with cannabis and/or hemp-derived materials to Good Manufacturing Practice standards.
Creso said the materials will be used to develop, manufacture, sell and commercialise its pharmaceutical-grade therapeutic products for the human and animal health markets in Australia.
The company announcement says the new partnership strengthens its strategic leadership in the sector and the company is well placed to capitalise on the growth in the Australian market following federal and state legislative changes to support research, cultivation and production of medicinal cannabis.
As acceptability of and demand for medicinal cannabis grows, Creso said its ability to access locally cultivated and manufactured products produced to the highest grade pharmaceutical quality would rise to meet this need.
"We are delighted to have the opportunity to work with LeafCann, a pioneer of the Australian medicinal cannabis industry," said Creso chief operating officer David Russell, adding that the quality of supply that LeafCann would provide "will help us manufacture products that meet international pharmaceutical standards."
The above article was sent to subscribers in Pharmacy Daily's issue from 12 May 17
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