A medicinal cannabis developer with links to Tasmania has announced an Australian distribution agreement.
AusCann Group Holdings Limited told the ASX the agreement with Clifford Hallam Healthcare (CH2) to store and distribute AusCann’s pharmaceutical products was cost effective and extended AusCann’s distribution network in Australia.
“Under the terms of the supply agreement with CH2, products will be supplied to pharmacies by CH2 for AusCann, in full compliance with the regulations governing the supply of an unregistered medicine,” AusCann said.
It said the agreement was for 12 months, with an option to extend it.
“This agreement marks another step on AusCann’s path towards making the hard-shell capsules available for clinical evaluation and prescription to patients in Australia through the TGA (Therapeutic Goods Administration) special access scheme and authorised prescriber scheme during the first half of 2020,” AusCann said.
The deal replaced a heads of agreement AusCann signed in early 2018 with Australian Pharmaceutical Industries Limited.
Perth-based AusCann focuses on development, production and cannabinoid-based medicines in Australia and overseas.
It described itself as transforming the way medicinal cannabis was dispensed “by making standardised, dose-controlled, cannabinoid-based pharmaceutical products and clinical evidence accessible to patients, physicians and healthcare providers”.
“AusCann enables physicians to treat their patients with a reliable, stable and standardised cannabinoid-based pharmaceutical product, monitor treatment results and adjust treatment algorithms using a portfolio of products and formulations.”
Westbury-based Tasmanian Alkaloids signed a three-year deal in July to supply cannabis resin to AusCann.
It would supply at least 30 per cent of AusCann’s cannabis resin for three years, with an option of a three-year extension.
