In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.VISIT NEW SITE
Leafcann granted three medical cannabis licences
3 minute read
The unlisted LeafCann Group Pty Ltd announced this week that it has received its Australian Cannabis Research and Medicinal Cannabis (Cultivation) licences from the Australian Office of Drug Control.
LeafCann is attempting to advance the re-introduction of plant-based extracts in medicine and nutrition through conducting and supporting product and industry research and development, clinical trials, commercial production and GMP manufacturing.
It is, in fact, building a robust and agile Medicinal Cannabis supply chain, forging export agreements and working towards ensuring patients have access to precision cannabis medicines made from the highest quality ingredients at affordable prices.
In May, the company was granted a licence to Manufacture Medicinal Cannabis by the Australian Office of Drug Control.
“After several years of Company development, I am delighted that Leafcann can now begin in earnest to execute our business plan towards delivering medicinal cannabis products to the many patients whose conditions are not treated effectively by existing pharmaceuticals, and whose quality of life could be substantially improved," said LeafCann Group CEO, Ms. Elisabetta Faenza.
"The LeafCann team’s vision is to deliver a world class outcome for the medical market by leading the sector in the development of person-centred precision medicines under GMP (Good Manufacturing Practice) production. We look forward to continued engagement with regulators and licenced industry partners to provide effective, validated medicines to those that need it most,”
This week's announcement means that combined with its existing Manufacturing Licence, LeafCann now holds a complete set of licences and can fulfil its ambition of providing high quality medicines using its ‘seed to sale’ capabilities.
“This is such an exciting moment for the whole organisation,” said Faenza, “the next 12-18 months are going to be extremely exciting as we roll-out our detailed plans and turn these licences into a business that produces person-centred, precision medicines for Australian patients, creating exceptional value for our customers, staff and investors.”
Leafcann Group Chief Scientist, Dr Jaroslav Boublik added, “I’m very pleased that LeafCann Group now holds all three ODC cannabis licences, as this clears the way for execution of the plans we have been developing since the founding of the companies. We now look forward to making a significant contribution to the growth of a robust and vibrant medicinal cannabis industry in Australia, and providing patients with new, innovative medicines for a range of ailments.”
LeafCann Group Chairman, Mr Ilario Faenza added, “The granting of these additional Licences for our first integrated Australian facility, LeafCann Innovate, is a significant milestone for the company and will enable LeafCann to finalise the upgrade of the existing facility and commence operations.”
LeafCann will use its Adelaide-based facility to conduct its initial research, cultivation and manufacturing operations, expected to be fully operational by the beginning of 2021.