Aurora Cannabis and MedReleaf Australia have unveiled a new line of higher-THC dried cannabis products for patients enrolled in the MedReleaf Concession Scheme (MCS).
Aurora Cannabis CEO Miguel Martin said: “We are proud to further expand the variety of high-quality medical cannabis products that Australian patients can access through the MCS.
“With the addition of IndiMed Tempo 26, doctors and patients now have more control and choice about their medical cannabis treatment than ever before. We are strongly committed to our patient-first approach to cannabis and ensuring access to medical patients, in Australia and around the world.”
The MCS was created by MedReleaf and Aurora to improve patient access to medicinal cannabis through compassionate pricing, targeting holders of pensioner concession, commonwealth seniors health, health care and veterans cards.
MedReleaf CEO Russell Harding added: “We have been able to provide heavily discounted products via our MedReleaf Concession Scheme, which widens the choice for prescriptions and significantly improves access for disadvantaged Australian patients struggling with debilitating health conditions.”
Aurora currently holds a 10% ownership stake in MedReleaf Australia.
Vitura Health
Vitura Health has received a shareholder notice from Matua Jansen, acting as trustee for the Whanau Family Trust, requesting an extraordinary general meeting to consider a proposed resolution for a one cent fully-franked interim dividend.
After receiving the notice, Vitura informed the trustee that the proposed resolution addressed matters beyond the authority of shareholders at a general meeting and offered the opportunity to withdraw, which the trustee declined.
Vitura subsequently refused to convene the meeting, asserting that the declaration and payment of dividends fall exclusively within the powers of its directors.
MGC Pharma
MGC Pharma’s CannEpil treatment for drug-resistant epilepsy is now accessible in the UK through Named Patient Request.
The high-CBD, low-THC formulation is delivered via an oral mucosal solution and is currently moving through a clinical development program.
UK clinicians listed on the General Medical Council specialist register are now able to prescribe the medicine, a development MGC Pharma said broadens its reach in the healthcare and life science sectors as “an innovative, plant-inspired pharmaceutical company”.
CannEpil has been prescribed to patients in Australia and Ireland over the past three years.
Its availability in the UK follows the company’s announcement that it is supplying the product for an observational trial backed by the I am Billy Foundation.
Patient data gathered during the trial will be used to further assess CannEpil’s safety and efficacy, informing future regulatory submissions.
Managing director Roby Zomer said: “The availability of CannEpil by Named Patient Request marks a momentous breakthrough for MGC Pharma. The product will now be available to a wide cohort of specialist medical practitioners in the UK, which is testament to the progress we are making.”
“We are extremely proud of the progress we have achieved thus far, and we are pleased that CannEpil has been selected as a treatment within an observational patient trial in association with the I am Billy Foundation. We look forward to updating the market on the results of this trial in due course.”
The company is also set to receive close to £3.7 million (A$6.91m) in new funding through a combination of a placing of new shares worth £1.2 million, up to £630k from specialist cannabinoid investor Cantheon Capital, up to £1.1m from an Australian government R&D rebate, and a broker option worth up to £750,000.
The proceeds will go toward advancing the company’s clinical pipeline, including a phase IIb clinical trial of CannEpil.
UPDATE (April 14, 2023): MGC Pharma has now closed its fundraising round, conditionally raising up to £2.09 million (A$3.82m) before expenses.
Rua Bioscience
Rua Bioscience has lodged its first medicinal cannabis dossier with the Polish Office for Registration of Medicinal Products.
The dossier, which is the opening step in what the company estimates will be a 12 to 18-month access process, was put together by Rua’s regulatory team alongside its Australian manufacturing partner Cann Group.
Poland’s medicinal cannabis market was established in 2017 and is among the largest and most rapidly expanding in Europe, with consistent double-digit growth. Rua said the market could be worth NZ$92 million before the year is out.
CEO Paul Naske said: “Poland is a very tricky market to enter, but presents a significant opportunity for those with access”, adding the submission had given the firm “early-mover” advantage.
Rua recently announced it was ceasing local GMP manufacturing and shifting its attention to building an “international product pipeline”.
“As we enter high-value international markets, steps like this will become more commonplace,” said Naske. “But the submission of our first dossier in Poland demonstrates a tangible commitment to our export strategy and to create a sustainable international business.”