Cann Compounding has unveiled a new Brisbane facility, becoming the company's second purpose-built site dedicated to medicinal cannabis compounding.
The Brisbane opening follows the successful debut of the company's first dedicated facility in Adelaide back in October 2023.
Cann Compounding said the new site houses three specialised laboratories, advanced quality testing capabilities, and substantial vault space for product security, all reflecting what it described as its "commitment to setting new standards in the industry".
CEO David Crisci added: "This new facility underscores our commitment to advancing patient and medical practitioner accessibility to high-quality medicinal cannabis products.
"It features cutting-edge technology for compounding unique formulations such as gummies, oils, capsules, pessaries, and suppositories, and is staffed by our highly skilled team.
"I look forward to servicing and supporting more patients and the growth of the industry."
Ecofibre
Ecofibre has acknowledged that reaching cash flow positivity remains "challenging" as the company keeps a tight grip on costs while pursuing selective asset sales.
Its quarterly update outlined a strategy centred on core business operations, debt and cost reduction, revenue growth within its Ecofibre Advanced Technologies division (formerly Hemp Black), and unlocking value in subsidiary EOF-Bio and its proprietary cannabinoid drug candidate EOF-001.
The company closed Q3 FY24 with total cash of A$10.4 million, comprising $7.1m in group funds and $3.3m held by EOF-Bio.
Quarterly revenue of A$8.1 million represented a 13% increase on the prior period, while unaudited operating costs — excluding EOF-Bio — fell 6%.
Investment cash inflows reached $7.1m over the quarter, with $5.1m coming from a partial sell-down of Ecofibre's stake in EOF-Bio and a further $2m from the divestment of Ananda Food to Elixinol Wellness.
The company also entered into a non-binding letter of intent to offload two US properties for US$10.4m.
Separately, Ecofibre confirmed it has filed a motion to dismiss legal proceedings brought by former chief science officer Dr Alex Capano, reiterating its intention to "vigorously defend" the action.
Capano, whose employment with Ecofibre was formally terminated last month, has alleged that senior executives prioritised the parent company's interests over those of its EOF-Bio subsidiary.
Ora Pharm
New Zealand-based Ora Pharm has fulfilled its first export order — just under 100kg of dried flower — to Australian distribution partner Canngea, with additional orders already in place.
Founder and CEO Zoe Reece said: "The New Zealand regulatory environment is internationally recognised and, while initially challenging to navigate, means we can now meet global demand in both Europe and Australia.
"We've worked methodically with our Australian partners to navigate regulatory frameworks and build a robust product pipeline at the same time building a sustainable operational model.
"We have carefully selected strategic partnerships, so the company is well positioned to capitalise on emerging opportunities in the global markets where there remains a significant product shortage of high-quality medicinal cannabis."
Ora Pharm said it plans to launch its next funding round shortly to expand commercial operations.
Althea
Althea Group Holdings (AGH) has entered into a distribution agreement with Symbion, a national healthcare wholesaler serving more than 3,850 retail pharmacies and 1,350 hospital customers across Australia.
Under the arrangement, Althea's full range of medicinal cannabis products will flow through Symbion's pharmaceutical wholesale channel from today.
AGH CEO and managing director Joshua Fegan said: "By partnering with Symbion, we push forward in our mission to normalise and simplify access to medicinal cannabis, ensuring doctors can prescribe and pharmacies can dispense cannabis-based medicines as they would any other pharmaceutical product."
Melodiol Global Health
Melodiol Global Health has reiterated its confidence in working through financial difficulties after receiving a fresh round of questions from the Australian Securities Exchange (ASX).
Confronted with nearly 30 queries about its finances — including whether the company believes it should remain listed — Melodiol said it is actively reducing its debt load and renegotiating arrangements with several lenders.
The company said specific terms must remain confidential until finalised and disclosed to market.
"The company has a track record of converting existing debt to equity and further conversions would reduce the company's liability position while having no effect on the asset side of the balance sheet," Melodiol said.
The company reported contractual cash flows of A$16.7 million against a negative working capital position of $17.5m as at 31 December.
Melodiol told the ASX it has also closed non-core business units to concentrate resources on revenue-generating divisions.
Wellnex Life
Wellnex has initiated steps toward a dual listing on the London Stock Exchange (LSE).
The ASX-listed consumer healthcare company said it completed thorough due diligence on the opportunity, which included an institutional roadshow, and has since appointed UK advisors to oversee the process.
The company said an LSE listing would give it a platform to grow both domestically and internationally as it introduces its brands and products to Europe, the Middle East and Asia through agreements with Haleon and Homart Pharmaceuticals.
Chairman Mario Tascone added: "While we continue to concentrate and increase our presence in the domestic market, this will open up opportunities to grow the business by taking advantage of the numerous opportunities internationally."
Emyria
Emyria has received firm bids totalling A$2.3 million via a well-supported placement from new and sophisticated investors.
The capital will go toward scaling and expanding the company's newly opened Empax Centre, a facility focused on treatment and research targeting unmet needs in mental health care, with a particular emphasis on treatment-resistant PTSD.
