- Source : Press Release
- Date : 2019-11-07
- Companies : Cann Group Ltd.
Cann Executes National Distribution Agreement with Symbion and Moves into Commercialisation Phase with Imported Medicinal Cannabis Products
7 November 2019 – Cann Group Limited (ASX:CAN, 'Cann' or 'Company') announced today that it is launching a range of imported medicinal cannabis products for supply to approved Special Access Scheme (SAS) patients.
Cann has entered into a distribution agreement with Symbion Pty Ltd, which supplies healthcare services and products to more than 4000 retail pharmacies and 1300 hospitals throughout Australia.
Symbion will carry Cann’s full range of imported products, for supply to approved SAS patients in line with each state’s legislative requirements.
Cann Group is also well advanced in its product manufacturing validation program with IDT Australia Ltd and expects to launch its first locally sourced and manufactured formulations in Q1 2020.
In addition, the Company has received its first shipment of a high THC oil formulation, which has been imported from strategic partner Aurora Cannabis in Canada. Permits are also in place for the import and supply of an additional five product presentations being supplied by Aurora.
Cann CEO, Peter Crock, said the Company is now entering its commercialisation phase, having successfully established a reliable cultivation and production capability.
“We are now operating our existing Southern and Northern production facilities at full capacity, with in excess of 40 harvests now completed, and we are advancing our product manufacturing capabilities with IDT Australia.”
Mr Crock said the distribution arrangement with Symbion will ensure that products can be supplied through approved pathways to patients throughout Australia who have been approved via the Special Access Scheme for medicinal cannabis treatment.
In addition to finished product formulations, Cann is working with a network of Australian compounding pharmacies to develop the capacity to produce compounded products specifically formulated for individual patient needs.
Mr Crock said Cann’s progression to commercial product supply represents an important milestone for the Company, and for the Australian industry in general.
“The Victorian Government acknowledged the progress made in the development of local industry capabilities when it announced recently the Government’s decision to cease its manufacturing role.
“Cann’s development and production expertise – together with the specialist manufacturing capabilities provided by our partner, IDT Australia – ensures Australian patients will have access to high quality and safe medicinal cannabis products.
“We are well underway with our major expansion program near Mildura, which is expected to be commissioned towards the end of next calendar year, and should consolidate Cann’s position as the leading local producer, with ample capacity to meet local patient needs.”
For further information please contact:
Cann Group Limited
61 3 9095 7088
Head of Investor Relations
Cann Group Limited
61 498 000 762
61 451 896 420
About Cann Group
Cann Group is building a world-class business focused on breeding, cultivating and manufacturing medicinal cannabis for sale and use within Australia. The company has established research and cultivation facilities in Melbourne and is striving to provide access to medicinal cannabis for Australian patients. Cann Group has executed collaboration agreements that will enable it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions. It was issued with Australia’s first medicinal cannabis research licence in February 2017, in addition to Australia’s first medicinal cannabis cultivation licence in March 2017. Aurora Cannabis Inc – one of Canada’s largest listed medicinal cannabis companies – is a cornerstone investor in Cann, with a 22.5% shareholding.