Bioxyne subsidiary Breathe Life Sciences (BLS) has imported and irradiated an additional 200kg of high-THC cannabis flower spanning four strains into Australia, carrying a dispensed patient value of A$3.2 million, as the company continues to grow its footprint in the domestic market.
The product will be packaged under the company's Dr Watson brand and distributed through special access pathways, as well as supplied in bulk to compounding pharmacies and licensed manufacturers.
BLS announced that the TGA is scheduled to conduct a GMP inspection, audit, and certification of its Brisbane pharmaceutical manufacturing facility in November, an outcome that would allow the company to substantially expand its production capabilities.
Bioxyne CEO Sam Watson added: "GMP certification will allow a significant scale up of production, which will supply both Australian and foreign markets, including Germany, the Czech Republic, and the UK where BLS has a strong foothold and sales team."
Cann Group
Cann Group has received a A$3.48 million research and development (R&D) tax incentive rebate for FY23.
The rebate covers eligible R&D activities carried out by the company, encompassing both internal research and work conducted through strategic partnerships.
Cann received net proceeds of $1.92m after settling early advances made by R&D specialist Radium Capital.
The company indicated the funds will go toward the ongoing advancement of its end-to-end cultivation and manufacturing capabilities.
InhaleRx
InhaleRx has submitted an ethics application for a phase IIa clinical trial examining the safety and efficacy of its IRX616a product in patients with panic disorder.
IRX616a is a drug-device product that delivers synthetic CBD through inhalation at a fixed dose.
InhaleRx said data from the trial, which includes three treatment arms of 36 participants each, will play a key role in shaping the design of a subsequent pivotal Phase III trial.
The company's long-term aim is to secure a New Drug Application with the US Food and Drug Administration for the product.
The firm noted that patient recruitment will commence "subject to further planned capital raising".
CEO Darryl Davies added: "We are confident that the trial design for IRX616a will be well received by the Bellberry HREC and the company is looking forward to measuring the effect that the drug-device combination product will have on participants suffering with panic disorder."
X-Hemp
X-Hemp has secured more than A$1.5 million from close to 1,000 individuals through crowdfunding platform Birchal.
The 100% female-owned and operated Tasmanian company produces environmentally-friendly, plant-based building materials. Founder and managing director Andrea Lucas also holds the position of president of the Tasmanian Hemp Association.
X-Hemp said to prospective investors: "With ready-to-execute commercial contracts in hand, there are near-limitless opportunities for growth in this sector.
"We are perfectly positioned to take advantage of the strong demand for carbon-neutral building materials and other industrial products."
Green Farmers/Elevated Signals
Green Farmers will introduce manufacturing software from Canadian company Elevated Signals at its second greenhouse in New South Wales as it prepares for production in 2024.
The B2B medicinal cannabis producer has already applied the technology at its Victoria facility to digitise and optimise inventory, quality, compliance, and data management.
Green Farmers chief financial officer Matthew Turner said: "In order to scale our business effectively to meet demand, having our operational processes dialled in was imperative.
"Elevated Signals provided the tailored and dynamic solution we needed, and has become an indispensable tool in our growth journey."
Elevated Signals CEO Amar Singh added: "Our ongoing expansion in Australia reflects our commitment to bringing unparalleled digital transformation to the cannabis industry globally."
