Breathe Life Sciences (BLS), a wholly-owned subsidiary of ASX-listed Bioxyne, has entered a joint venture agreement with technology firm CanXChange to develop an AI-powered B2B therapeutic goods trading platform for the Australian market.
Targeting a Q4 2023 launch, Bioxyne said the platform will enable wholesale transactions between licensed buyers, sellers, cultivators and accredited manufacturers across Australia, while also opening up international markets to Australian companies holding an export licence.
In a statement to the ASX, Bioxyne said that London-based CanXChange is Europe's largest B2B cannabis platform, having recorded more than €30 million (close to A$51m) in transactional volumes to date.
The company described CanXChange as a specialist in digital exchange venues, payment processing, compliance and data services, noting that the firm develops its own proprietary technologies and is "at the forefront of AI research and development" for the industry.
Bioxyne CEO Sam Watson said of CanXChange Australia: "It's a phenomenal platform and tool, and we expect significant uptake in the market."
CanXChange CEO Alex Arkentis said the joint venture was "a strong statement made by both companies to develop technological and operational efficiency standards for the Australian medicinal cannabis industry, which has recently become the most coveted market… in the world".
Bioxyne recently launched online healthcare business BLS Clinics in partnership with technology provider InstantScripts.
