Althea Group Holdings (ASX:AGH) announced on Wednesday (November 13) it has entered into an agreement with the Australian Centre for Cannabinoid Clinical and Research Excellence to supply medical cannabis for a clinical trial in New South Wales.
As quoted in the press release:
Under the agreement, as one of several suppliers, Althea will supply two cannabis medicines for the Trial. The target number of patients for the trial is up to 600 and Althea’s products will be supplied to Australian Centre for Cannabinoid Clinical and Research Excellence (through the University of Newcastle) on commercial terms. Under this arrangement, the CARE NSW Trial does not guarantee Althea a minimum or maximum quantity of investigational product to be purchased.
Althea CEO Josh Fegan said: “Althea is proud to be one of the companies supplying cannabis medicines to the Australian Centre for Cannabinoid Clinical and Research Excellence’s clinical trial. We are big believers in the potential benefits of medicinal cannabis and pleased to support an initiative such as this, which will further our scientific understanding of its use in areas of unmet needs. We look forward to the results of the CARE NSW Trial.”