Rua Bioscience has reported record sales for March, even as a supply shortage continues to weigh on its performance in Germany.
The New Zealand company did not disclose specific revenue figures but said it achieved its highest-ever monthly sales domestically and noted that its presence in Australia was growing following record flower sales.
"Rua continues to view Australia as a strategically important growth opportunity and is investing in strengthening its commercial footprint," the firm said in an update to the New Zealand Stock Exchange.
Despite describing demand in Germany as "high", Rua acknowledged that sales are being "temporarily limited by a supply shortage".
The company expects growth to pick back up once supply chain capacity is rebuilt over the coming quarter.
"The German market remains a core focus for the company's international expansion strategy," the firm told the NZX. "Rua's continued focus on quality, accessible products is resonating with patients and prescribers alike.
"With new product launches planned in the coming months, Rua is well positioned to maintain and accelerate this growth trajectory."
Zelira Therapeutics
Zelira Therapeutics has secured access to as much as $1m in standby equity over the next 12 months through an agreement with Securities Vault.
The capital management firm, which describes itself on its website as offering access to capital and liquidity "the modern way", has received 550,000 Zelira shares that it can be directed to sell at Zelira's discretion to raise funds for the ASX-listed company.
Zelira, which is progressing toward clinical trials for its Hope product aimed at autism, said the arrangement gives the company the flexibility to draw on capital "as needed".
The People's Plant
Queensland-based cultivator The People's Plant has closed its second Birchal crowdfunding campaign with nearly $1.4m in commitments from 798 investors.
The funds raised will go toward building a drying room, post-harvest facilities, a storage room and a laboratory, complementing the greenhouse and insect mesh constructed after a previous Birchal campaign that brought in $1.03m.
While initially focused on white-label contract growing, The People's Plant said it plans to launch its own brand once its B2B operations are generating revenue.
The company has signed offtake agreements with Canngea, Medibis, Rua Bioscience and Australian Natural Therapeutics Group (ANTG).
Co-founder Ben Risby-Jones said the cultivator was aiming to be in market within 12 months.
"We do not want to waste time," he said. "We want to get this business up and running."
Neurotech International
Neurotech International has confirmed that executive director Dr Thomas Duthy has resigned after four-and-a-half years with the company "to pursue other business interests".
The resignation takes effect immediately, with Duthy departing both his executive role and his seat on the board.
Non-executive chairman Mark Davies said: "Tom has provided outstanding service to Neurotech as it evolved from a prospective, early-stage business into an advanced drug-development company focused on paediatric neurological disorders with significant commercial potential.
"On behalf of the board I want to thank Tom for his tireless contribution to the company and wish him all the best moving forward."
Argent Biopharma
Argent Biopharma's lead product CannEpil has received approval for prescription in Germany, an achievement the company called a "major milestone" in its push into European markets.
The cannabinoid-based treatment for refractory epilepsy will be available to prescribers through Germany's special access scheme.
Gaining a foothold in the country "paves the way for broader penetration into other EU markets with similar regulatory pathways", Argent said.
"Beyond geographical growth, this milestone underscores the increasing acceptance of cannabinoid-based medicine for central nervous system disorders," the company said in a statement to the ASX.
Argent noted that around 816,000 people in Germany have been diagnosed with epilepsy, a "substantial portion" of whom live with drug-resistant forms of the condition.
Cann Group
Cann Group has entered an agreement to supply its Botanitech product range to 11 Chemist Warehouse pharmacies across Queensland, announced on Thursday.
The products will be made available upon request when participating outlets receive prescriptions under the Special Access and Authorised Prescriber schemes.
Cann Group chief executive Jenni Pilcher said it marked the beginning of a "promising relationship".
"We look forward to working closely with Chemist Warehouse and their network of franchisees to drive mutual success and growth," she said.
