A second Althea cannabis oil has been approved for reimbursement in Ireland, a development chief executive Josh Fegan described as a "remarkable achievement".
The 50ml bottle of Althea THC20:CBD1 will be available through the Republic of Ireland's Primary Care Reimbursement Service for patients receiving treatment for intractable nausea and vomiting associated with chemotherapy.
Patients will be reimbursed up to €330 (A$552) for the product.
Althea's CBD12:THC10 cannabis oil received similar approval in July.
In addition, Althea's clinic arm MyAccess Clinics is set to begin operating in Ireland in November, providing online consultations to patients in the country.
Althea said the expansion would not require additional funding and would draw on existing infrastructure.
Melodiol Global Health
Melodiol Global Health has announced a capital raise while continuing negotiations to offload some of its lower revenue-generating divisions.
The ASX-listed company said it has secured firm commitments to raise approximately A$1m through the issue of around 200 million new shares priced at $0.005 cents per share.
Melodiol said the funds would go toward "select marketing and sales initiatives, corporate costs, potential debt repayments, and costs associated with the potential restructuring of lower revenue-generating operating divisions to accelerate group profitability potential".
The company has also reached a debt-to-equity arrangement with creditors to convert $724,206 in outstanding amounts into equity via the issue of 157 million shares.
Melodiol acknowledged, however, that additional funds would be needed "in the near term" and that the "company considering additional sources of capital".
Separately, Melodiol said its negotiations with Panacea Life Sciences over the acquisition of certain lower revenue-generating divisions are continuing.
Any deal, which Melodiol flagged in August, is now expected to exclude Sierra Sage Herbs but include Creso Impactive, a change the company said "would be likely to materially reduce the overall purchase price".
