New Zealand's Medicinal Cannabis Agency has verified that Helius Therapeutics' CBD25 and CBD100 full-spectrum products meet the country's quality standards for medicinal cannabis.
According to industry sources, both products became available on prescription in New Zealand today. The company also has plans to export them globally, with Europe and South America identified as priority markets.
Helius is currently seeking investment to speed up its growth ambitions both at home and abroad.
Chief executive Carmen Doran said: "We have seen significant delays and disruptions in the availability of imported products as Covid continues to impact supply chains.
"It is disconcerting for patients and prescribers when products that are making a difference in people's lives are not available. Fully New Zealand-grown and made products will help alleviate such issues."
The two newly cleared medicines were developed at Helius' Auckland manufacturing facility, using cannabinoids extracted from dried flower grown by organic-certified cultivator Puro.
Puro executive director Tim Aldridge said that having locally grown and manufactured medicinal cannabis on the market would improve access and affordability for patients in New Zealand.
"Since starting in 2018 it's always been our aim to provide New Zealand patients with greater access to high-quality, locally grown and manufactured medicine.
"While it's up to pharmacists to determine how much they'll charge, I hope this new product could cut costs for Kiwi patients by as much as 50% compared to those coming from overseas."
"As far as we know, this is the first time any medicine that's New Zealand-grown and manufactured has been available on prescription," he added.
