Leafcann granted three medical cannabis licences

Published at Aug 16, 2019, in The 420 Report

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.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!

X