THE government's Office of Drug Control has issued the first licence to be approved under its new regulatory system for medicinal cannabis use in Australia.
Melbourne-based Cann Group's new research licence allows it to legally cultivate medical cannabis and conduct research on its use for medicinal purposes.
The firm, which operates as an unlisted public company, has also submitted an application for a cultivation licence, and said it is "confident of securing this in the near future".
Cann Group chairman Allan McCallum said receiving the first licence validated the significant investment the company had made in establishing facilities and protocols to meet the strict criteria required for approval.
"This is an important milestone in the medicinal cannabis sector in Australia, but also for Cann Group and the development of our business plan," he said.
Current Cann Group activities are focused on the breeding, cultivation, extraction and characterisation of cannabinoids.
McCallum said the firm would now be able to undertake further discussions with a number of other Australian research and technology organisations to access additional expertise and resources.
"We are putting in place the building blocks to ensure we have industry-leading research, cultivation and manufacturing capabilities...this will position us to eventually provide Australians with access to innovative and high quality medicinal cannabis treatments," he added.
The Cann Group's overall objective is to be recognised as the leading developer and supplier of regulated medicinal cannabis in Australia.
The above article was sent to subscribers in Pharmacy Daily's issue from 22 Feb 17
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