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Explore StocksVir Pharma has signed with Sundial for a three year agreement to receive cannabis oil from the Canadian marijuana company for its oral formulation for chronic pain.
A Canadian cannabis producer is stepping into the Australian cannabis landscape through a supply agreement for medical cannabis oil.
New South Wales-based Vir Pharma Holdings has signed on with Sundial Growers (NASDAQ:SNDL) for a three year agreement to receive cannabis oil from the Canadian marijuana company for its oral formulation for chronic pain.
The drug is to be distributed for commercial and research use across Australia and offers an alternative to opioid-based pain treatments, Sundial said.
In an emailed statement to the Investing News Network (INN), Brian Harriman, chief operating officer at Sundial, said the two firms are well aligned for a partnership because of their mutual focus on the therapeutic effects of marijuana.
“Vir Pharma is a company with similar strategic interest in medical cannabis, and we feel our collective capabilities will bring synergistic benefits to both companies,” Harriman told INN.
Since the news was announced last Thursday (January 9), Sundial’s share price has been up just over 5 percent.
Sundial said it expects to send the first shipments of its cannabis oil to Vir before the end of April 2020.
Though Sundial is currently focused on its expansion into Australia, the executive added that the company plans to use information from its agreement with Vir Pharma for future partnerships with other international firms moving forward.
“This is a significant announcement for Sundial and our Heal (medical) business as it will lead to our first global exports and entry into Australian markets,” said Harriman in a press release.
Vir Pharma, a licensed medical cannabis importer and manufacturer in Australia, is currently developing Virabis, a pain treatment drug that’s up for approval from the Therapeutic Goods Administration (TGA), the country’s regulator of medicinal products.
Vir plans on leveraging Sundial’s cultivation expertise with its own experience in medical cannabis product production to further develop medical marijuana-based treatments.
Joel Hardy, CEO at Vir Pharma, said that along with the creation of the cannabis drug, the agreement will allow the firm to start a clinical development program.
Sundial joins the likes of MediPharm Labs (TSX:LABS,OTCQX:MEDIF), another Canadian marijuana company, in branching out into the Australian cannabis market recently.
In June last year, MediPharm announced its first shipments of medical cannabis concentrate to Western Australian cannabis pharmaceutical company AusCann Group Holdings (ASX:AC8).
Aleafia Health (TSX:ALEF,OTCQX:ALEAF) has also been supplying the Australian cannabis space with its branded medical cannabis oils through an agreement with its partner CannaPacific.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: MediPharm Labs is a client of the Investing News Network. This article is not paid-for content
Click here to read the previous Australia mining update.
After an uncertain 2020 for the Australian mining industry, the resource market showed signs of a sharp recovery in the first six months of the new year.
Prices for iron ore are supporting resource exports in the country, with many ASX-listed mining companies also posting gains year-to-date.
Here the Investing News Network looks at what's happened in Australia's mining sector so far in 2021, and what could be ahead in the second half.
Following a chaotic 2020, where the Australian resource industry showed resilience, 2021 kicked off on a bright note.
During the first three months of the year, Australia's mineral exports improved as the world economy rebounded from the impact of the COVID-19 pandemic.
"Australian miners have found their product in high demand, helped by the impact of government and central bank measures abroad," the Office of the Chief Economist's (OCE) March quarterly report reads.
In that period, the OCE's Resources and Energy Export Values Index rose 11.8 percent from the March quarter of 2020 — a 1.8 percent rise in prices added to a 10 percent gain in volumes.
Speaking at the recent Noosa Mining Conference in Queensland, EMR Capital's Owen Hegarty said Australia has outperformed almost every other country on the mining front.
"We have remote locations, (and) wonderful principles, policies and practices when it comes to occupational health and safety," he said.
The resource sector is looking strong for the expert in the next few years as demand continues to grow, backed by a sharp recovery, a growing population and the green energy transition.
"Commodities have a very strong demand going out for the longer term — supply side is the problem," he said, pointing to the lack of reinvestment from some of the bigger miners, paired with lead times for permitting and licencing approvals all of which are taking longer.
"There's only one thing that can happen to prices under those sorts of circumstances, and that is they will be under tension," he added.
Looking at how top Australian commodities performed, the iron ore price has remained strong in the first few months of the year, as a recovery in demand in some of the advanced industrialised nations has added to strong Chinese demand. That paired with low Brazilian supply has kept prices high.
"In the coming year, it is likely that the iron ore sector will make a significant contribution to (gross domestic product) growth, as high prices and margins drive growing volumes," the OCE said back in March. "The coal sector is likely to make only a modest contribution to growth in the first half of the outlook period."
Meanwhile, Australian miners and explorers continued to make progress at their projects, following a historic year for capital raising. In fact, according to Refinitiv, 2020 brought the highest total activity in the country since 2015, plus a record number of equity issuances.
In early June, BDO published a report on cash raised by explorers in the mining sector, showing positive signals for a continued strong recovery.
Exploration companies raised AU$2.37 billion in the March 2021 quarter, up 7 percent from the AU$2.21 billion raised in December. Of those companies, 48 raised funds of AU$10 million or more and made up 75 percent of the total funds raised.
"The first quarter of 2021 has proven to be a strong start to the year for Australian explorers, and is showing signs of a transition away from mere recovery to a new focus on ESG," the BDO report reads. "The global push for lower carbon emissions and clean energy has put a spotlight on EV-related commodities and greener energy alternatives, which we are already seeing in the March quarter."
As economies continue to open up, the fight against the coronavirus is still ongoing. The second half of the year kicked off with new lockdown measures in some countries and cities. However, many continue to be optimistic about the Australian mining sector's outlook for 2021.
Australia's resource and energy exports are estimated at a record AU$310 billion in 2020/2021, with almost half of those earnings coming from iron ore alone.
"The improved outlook reflects the ongoing rollout of vaccines, and the momentum this is providing for economic activity and trade amongst many of Australia's major trading partners," the most recent OCE quarterly report reads.
Australian iron ore earnings appear to have surged by almost 50 percent to an all-time high in 2020/2021. After topping the AU$100 billion mark ― the first time ever for any commodity ― in 2019/2020, iron ore export earnings are forecast to rise to AU$149 billion in 2020/2021, according to the OCE.
In other base metals, Australia's copper export volumes are expected to be moderate over the outlook period, from 924,000 tonnes in 2020/2021 to around 909,000 tonnes in 2022/2023.
"Australia's copper export earnings are expected to increase in-line with higher prices. Export earnings are forecast to reach $13 billion in 2021/2022, up from $10 billion in 2019/2020," the OCE forecasts.
Meanwhile, metallurgical coal prices have recovered moderately, in line with improving global industrial production and economic activity. The Australian premium hard coking coal price is estimated by the OCE to increase from an average of US$143 a tonne in 2021 to around US$157 by 2023.
Looking over to precious metals, Australia's gold exports are forecast to reach a record AU$29 billion in 2021/2022.
"Labour and skill shortages are affecting Australia's gold mine production, which is estimated to reach 332 tonnes in 2020-21," the latest OCE report reads. "Production from new mines and existing mine expansions is expected to boost gold mine production to 388 tonnes in 2022/2023."
For battery metals the story is also looking bright. Rising prices for lithium are supporting the recovery of Australian producers with two refineries under construction.
According to the OCE, Australia's lithium export earnings are forecast to increase from AU$1.1 billion in 2019/2020 to AU$2.5 billion in 2022/2023.
Commenting on his favourite commodities going forward, EMR Capital's Hegarty mentioned copper, gold and met coal.
"Copper is electrifying China and the rest of the developing world. It's the noblest of all metals, it's got a great diversity of uses and now you've got the green energy transition, which adds another leg to copper demand," he said. "It's on the supply side that the issue is ― the discoveries have been declining, exploration spins have been at a low point, so it's going to be tough to bring on new copper."
Aside from copper, the expert also believes lithium, cobalt and graphite will be winners in this green energy transition, and EMR Capital has long positions in cobalt.
Hegarty has also liked gold for a long time, saying it's not only a commodity, but also a currency and a store of value.
"Exchange-traded funds are becoming more and more popular, and also the governments continue to buy gold," he said. "And it's the same thing as with copper — you've just got less exploration going into it, you've got less discoveries going into it and that's why gold continues to be under tension."
Looking over to met coal, Hegarty made the point that this commodity is part of the solution to decarbonisation and not part of the problem.
"It's so important to have that high-quality hard met coal going into steel production, so that we can actually continue to grow and the world can go through this whole decarbonising process," he said.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
This Master Services Agreement is the first partnership for Medlab to supply their cannabinoid medications outside of its current Australian Special Access Scheme.
Dr Sean Hall, CEO of Medlab stated, “This is a major milestone for Medlab to begin supplying NanaBis(TM) and NanoCBD(TM) on prescription for the first time to patients outside Australia.”
Established in 2008, WEP Clinical manages pre-approval Expanded Access (EAP) and post-approval Named Patient (NPP) programmes on behalf of established pharmaceutical companies and healthcare providers. WEP provides end-to-end EAP and NPP solutions which include regulatory expertise, real-world data collection, drug warehousing and distribution services to help patients with an unmet medical need receive unapproved medicines in a timely manner.
Jas Khera, Managing Director at WEP Clinical stated “WEP Clinical is pleased to partner with Medlab Clinical to bring novel cannabinoid medications to patients in Europe and UK. The early clinical trial data and development programme supporting their products in cancer pain management coupled with their unique patented NanoCelle(R) delivery platform is what excites us about working exclusively with Medlab in the cannabis-based medicine space.”
Over the next 3 months, Medlab and WEP will undertake the required work to prepare for the entry of both NanaBis(TM) and NanoCBD(TM) into the UK.
Mr Laurence McAllister (Medlab Board Director) stated: “This Compassionate Program approval for the UK & Europe coupled with the Special Access Scheme (SAS) in Australia is now creating the Medlab, NanaBis(TM), NanoCelle(R) and NanoCBD(TM) branded Medlab trademark awareness in clinicians and patient’s hands to build the trusted quality of the hard clinical trials and R&D bench work behind the medicine, and now we need to finalize the North American initiative with the FDA that is well developed as soon as possible.”
About WEP Clinical:
Established in 2008, WEP Clinical is a specialist services company that works with drug developers to help patients and physicians gain early access to medicines when no other treatment options are available. We have offices located in London, United Kingdom; RTP North Carolina, United States; Lisbon, Portugal; and Dublin, Ireland and possess all the necessary licenses allowing us to meet drug access and distribution needs across all regions, worldwide. We are passionate about helping those in need. For more information, please visit www.wepclinical.com
About Medlab Clinical Ltd:
Medlab Clinical Limited (ASX:MDC) is pioneering the development and Commercialisation of a delivery platform, allowing for enhanced medical properties, including increased efficacy, safety, patient compliance and stability. Medlab’s pipeline comprises a number of small and large molecules from repurposing generic medicines to enhancing the delivery of immunotherapies. Patented lead drug candidate NanaBis(TM) has been developed for cancer bone pain as a viable alternative to opioid use. Data to date, strongly suggests NanaBis(TM) may be equally effective in non-cancer neuropathic pain. NanoCelle(R), the patented delivery platform is wholly owned by Medlab and developed in Medlab’s owned OGTR Registered Laboratory. NanoCelle(R) is designed to address known medication problems, addressing global unmet medical needs. Medlab operates in Australia (Head Office), USA, and the UK.
Source:
Medlab Clinical Ltd
Contact:
Medlab Clinical
Dr. Sean Hall, CEO
Sean_hall@medlab.co
Medlab US Investor Relations
Laine Yonker
lyonker@edisongroup.com
News Provided by ABN Newswire via QuoteMedia
After the country became the world’s largest lithium producer in 2018, many market participants are wondering if investing in lithium in Australia is a good option
Without a doubt, the energy revolution is here to stay, with forecasts for electric vehicle (EV) sales increasing every day. As a result, demand for lithium, a key element in the lithium-ion batteries used to power electric cars, is expected to triple by 2025 — reaching about 1 million tonnes in size.
For investors interested in getting into the space, here’s a brief overview of the basic facts to know about investing in lithium in Australia, including what stocks to keep an eye on.
Lithium is found globally in hard-rock deposits, evaporated brines and clay deposits. Australia is known for its hard-rock, pegmatite-hosted lithium resources, which are largely located in Western Australia.
Hard-rock ore containing lithium is extracted at open-pit or underground mines using conventional mining techniques. The ore is then processed and concentrated using a variety of methods prior to direct use or further processing into lithium compounds.
Australia produced 40,000 metric tons of lithium in 2020. The country hosts the Greenbushes lithium asset, which is operated by Talison Lithium, a subsidiary jointly owned by miners Tianqi Lithium (SZSE:002466) and Albemarle (NYSE:ALB). Greenbushes is the world’s largest hard-rock lithium mine.
Other operations in the country are the Mount Cattlin, Early Grey, Mount Marion and Bald Hill deposits, as well as other deposits with significant lithium resources.
In terms of reserves, Australia holds over 4.7 million metric tons of identified lithium reserves, according to the US Geological Survey, which puts it well behind Chile (9.2 million metric tons). It’s worth noting that most of the country’s lithium supply is exported to China as spodumene.
Despite a strong future outlook, 2020 was a particularly tough year for lithium producers in Australia given COVID-19 restrictions. Many other factors are impacting the sector as well, including trade tensions with China and a downward trend in prices over the past few years.
In 2020, “owing to overproduction and decreased prices, several established lithium operations postponed capacity expansion plans,” as per the US Geological Survey. “Junior mining operations in Australia and Canada ceased production altogether.”
However, lithium prices have rebounded in 2021, with investor sentiment for lithium stocks picking up as well. Many analysts and market participants agree that the long-term fundamentals for lithium remain strong, with the EV revolution leading the way.
Benchmark Mineral Intelligence forecasts that lithium demand will reach 2.2 million tonnes by 2030, driven by growing EV adoption through the next decade.
With the lithium forecast looking bright, investing in lithium in Australia could lead to portfolio gains.
Investors interested in lithium stocks should keep an eye on companies listed on the Australian Securities Exchange (ASX). The Sydney-based stock exchange, which has a total market capitalization of about AU$2.1 trillion, has more than 2,000 stock listings.
When looking at investing in lithium in Australia, companies listed on the ASX are a good place to start learning about players in the space. Here’s a quick look at the five top lithium stocks on the ASX by market cap. Data for this list was gathered using TradingView on June 23, 2021.
Market cap: AU$9.16 billion
Mineral Resources is a leading mining services provider, with a particular focus on the iron ore and hard-rock lithium sectors in Western Australia. Its current lithium projects include Mount Marion and Wodgina.
The Mount Marion lithium project, which is located in Kalgoorlie, Western Australia, is jointly owned by mining companies Mineral Resources and top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The asset was initially expected to produce 206,000 tonnes of spodumene concentrate per year, but an upgrade project completed in 2019 increased production to 450,000 tonnes of all-in 6 percent spodumene concentrate per year.
Market cap: AU$4.48 billion
Pilbara Minerals owns 100 percent of the world-class Pilgangoora lithium-tantalum project, which the company says is one of the biggest new lithium ore (spodumene) deposits in the world, with a globally significant hard-rock spodumene resource.
The current mineral resource estimate for the asset comprises 226 million tonnes grading 1.27 percent lithium oxide (lithia), 116 parts per million tantalum pentoxide (tantalite) and 0.6 percent iron oxide, meaning there are 2.86 million tonnes of lithium oxide and 57.7 million pounds of tantalum pentoxide.
Market cap: AU$2.05 billion
Orocobre is building a substantial Argentina-based industrial chemicals and minerals company through the construction and operation of its portfolio of lithium brine, potash and boron projects and facilities.
Orocobre, in partnership with Toyota Tsusho (TSE:8015), has built the Olaroz lithium-producing facility in Northern Argentina; it is the world’s first commercial lithium brine operation built in about 20 years. Olaroz has a measured and indicated resource of 6.4 million tonnes of lithium carbonate equivalent and is capable of sustaining current continuous production for over 40 years.
Market cap: AU$1.72 billion
Galaxy Resources owns lithium production facilities, hard-rock mines and brine assets in Australia, Canada and Argentina. The company wholly owns the Mount Cattlin mine in Ravensthorpe, Western Australia, which is currently producing spodumene and tantalum concentrate, as well as the James Bay lithium pegmatite project in Quebec, Canada.
Market cap: AU$1.18 billion
Liontown Resources holds two lithium projects in Western Australia. The advanced-stage Kathleen Valley spodumene lithium project has a 2020 mineral resource estimate of 156 million tonnes grading 1.4 percent lithium oxide and 130 parts per million tantalum pentoxide, with 80 percent of the resource in the measured and indicated category. The company completed a prefeasibility study in 2020 and is now progressing a definitive feasibility study on Kathleen Valley.
Liontown’s Buldania project has a maiden indicated and inferred mineral resource estimate of 14.9 million tonnes grading 0.97 percent lithium oxide and 44 parts per million tantalum pentoxide.
This is an updated version of an article first published by the Investing News Network in 2019.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Investors looking for decentralised assets (and potentially major gains) in a post-COVID-19 Australia are turning in droves to cryptocurrencies.
Bitcoin in particular is getting Aussies excited after its price hit record highs in March 2021, and again the next month. As a finite resource, its volatility is proving exciting for many market watchers.
For those interested in jumping into the space, the Investing News Network has put together a step-by-step guide on how to start buying bitcoin in Australia — and how to stay safe while doing so.
Bitcoin is a decentralised digital cryptocurrency not issued under the authority of a government.
As a digital unit of account, each bitcoin transaction is made online via a peer-to-peer network. Transactions are then collected into blocks, with new blocks attached to previous blocks — hence the term "blockchain."
More and more places in Australia are accepting bitcoin as payment, although this is considered somewhat risky due to its price fluctuations. Many enthusiasts prefer instead to simply hold bitcoin for the long term.
There are a few different ways to purchase bitcoin in Australia. These include buying from a bitcoin cryptocurrency exchange, using a bitcoin broker or choosing to use a peer-to-peer exchange.
Here's a quick look at how to get started:
After making a bitcoin purchase, how can it be stored? Buyers have a few choices.
In Australia alone there are reportedly more than 70 cryptocurrency wallets on the market. A crypto wallet, sometimes known as a digital wallet, is a software program that allows users to store and make transactions with cryptocurrencies like bitcoin.
A crypto wallet has a private key that enables the owner to access any funds stored in the crypto wallet; it also has a public key that functions like a bank account number, enabling other people to send digital funds.
Sometimes called "cold storage," a hardware wallet stores cryptocurrencies completely off the internet. These devices look a little like a USB stick, and are used to store users' private keys for bitcoin.
In order to trade cryptocurrencies held in a hardware wallet, owners must move the coins to an exchange, which comes with some security risks.
If setting up a crypto wallet is too much of a hassle, it's also possible to store cryptocurrencies in a wallet connected to the same exchange the coins were purchased from.
This option isn't usually recommended by crypto experts as it means the coin owner doesn't control the wallet's private key — meaning they don't completely own their cryptocurrency. It also makes bitcoin holders a target for thieves, and since bitcoin is a decentralised currency there is little hope of recovering it once stolen.
Bitcoin is a compelling purchase, but sometimes an investment reaches its end.
When it's time to cash out, bitcoin holders must first decide whether they want to sell their bitcoins for Australian dollars, or trade them for another cryptocurrency. Here's how the process can be completed:
Alternatively, if you have an extremely large amount of bitcoin to trade or sell, you can use one of 32 bitcoin ATMs around Australia to quickly make the change to cold, hard cash.
For more on bitcoin in Australia, click the link below:
Don't forget to follow @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
Nickel gets a lot of love these days. Besides its applications as a base metal, it's discovering a rising popularity as an electric vehicle metal thanks to its role in battery technology.
Nickel is a vital component in lithium-ion batteries, which are seeing "hockey stick"-like production rates around the world as electric vehicles become more prevalent.
According to the Australian government, the country holds around 19.7 million tonnes in economic demonstrated reserves of the metal, making it a top nation for nickel reserves, as well as a top nation for nickel production with 180,000 tonnes produced in 2019.
2020 saw a small dip to 170,000 tonnes (thanks to the pandemic and impacts on supply lines), but Australia is still ranked fifth globally behind the likes of Indonesia, the Philippines, Russia and New Caledonia.
The key jurisdiction within Australia when it comes to nickel is the mining behemoth Western Australia, where the top mining company in the world — BHP (ASX:BHP,NYSE:BHP,LSE:BHP) — operates three huge mines. It makes sense that most nickel activity would be there, as the state accounts for a whopping 90 percent of Australia's economic reserves of the metal.
Western Australia is an attractive jurisdiction, and has been ranked highly by the Fraser Institute for many years in a row — most recently it came in fourth place in 2020 (after falling from first in 2019).
To get exposure to the companies operating in Western Australia, investors will need to go through the Australian Securities Exchange (ASX), or through a dual-listed company in their country of origin. Here's a handy guide on how to go about investing in companies on this Australian exchange.
Nickel stocks in Australia are almost all operating in Western Australia, with only a handful of companies elsewhere in the country. The top mines overall in the nation are Ravensthorpe, Murrin Murrin and Mount Keith, which are owned and operator by Canada's First Quantum Minerals (TSX:FM,OTC Pink:FQVLF), the Anglo-Swiss Glencore (LSE:GLEN,OTC Pink:GLCNF) and BHP (ASX:BHP,NYSE:BHP,LSE:BHP), respectively.
Each company is ploughing millions into the region in order to get the most out of the jurisdiction, as Australia's competitors are less developed, less reliable and more risky investments.
The outlook for nickel in Australia, and therefore Western Australia, is bright. The export value for the metal stood at AU$4,285 million in 2018, as per government data, and economic reserves show that Australia will remain a major nickel player well into the future — at 2018 rates of production, Australia would be able maintain the same output level for 133 years.
Which nickel stocks are both listed on the ASX and operating in Western Australia? The key operator is of course BHP, which contributes a huge share of Australia's entire nickel output. Here's a look at BHP and its nickel compatriots in the state.
All market cap and share price information was accurate as of July 15, 2021.
Market cap: AU$238.57 billion; current share price: AU$51.53
In 2020, all the nickel companies in Australia produced 170,000 tonnes of nickel. For its part, BHP reported production of 80,000 tonnes during the 12 months ended on June 30, 2020 — while that period of course doesn't overlap completely with the full 2020 calendar year, BHP can comfortably claim to produce almost half of Australia's nickel.
In Western Australia, BHP has both high- and low-grade ore sources, with high-grade ore coming from the Cliffs and Leinster underground mines and the Rocky's Reward open-pit mine, and low-grade ore coming from the Mount Keith open-pit mine. All ore is processed at Leinster, and is concentrated at a plant at Kambalda for sale to third parties, making BHP a vertically integrated operation wholly within Western Australia.
Market cap: AU$6.54 billion; current share price: AU$8.64
IGO is the owner and operator of the Nova nickel-copper-cobalt operation in the Fraser Range, which is between Kalgoorlie and Esperance. Discovered in 2012, the project got going quick, moving through construction to reach nameplate capacity by Q4 2017. In 2020, the mine produced over 30,000 tonnes of nickel (along with over 13,000 tonnes of copper and 1,100 tonnes of cobalt).
Market cap: AU$493.14 million; current share price: AU$1.14
Mincor Resources is the owner of the Kambalda nickel operation, which is made up of three mines in South-Central Western Australia. Kambalda is not fully operating, but the company hopes to report the first nickel-in-concentrate output by the first quarter of 2022, according to a definitive feasibility study released in early 2020. One of the mines at the complex opened officially in March 2021. The company plans for nickel ore to be processed through BHP's facilities and sold on to the larger company.
Besides the big three companies above (and the Canadian and Anglo-Swiss operators in the state), other nickel companies on the ASX operating in Western Australia are Azure Minerals (ASX:AZS), Ardea Resources (ASX:ARL,OTC Pink:ARRRF), Poseidon Nickel (ASX:POS) and Auroch Minerals (ASX:AOU).
For more on Australia's nickel landscape, click the links below:
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
This Master Services Agreement is the first partnership for Medlab to supply their cannabinoid medications outside of its current Australian Special Access Scheme.
Dr Sean Hall, CEO of Medlab stated, “This is a major milestone for Medlab to begin supplying NanaBis(TM) and NanoCBD(TM) on prescription for the first time to patients outside Australia.”
Established in 2008, WEP Clinical manages pre-approval Expanded Access (EAP) and post-approval Named Patient (NPP) programmes on behalf of established pharmaceutical companies and healthcare providers. WEP provides end-to-end EAP and NPP solutions which include regulatory expertise, real-world data collection, drug warehousing and distribution services to help patients with an unmet medical need receive unapproved medicines in a timely manner.
Jas Khera, Managing Director at WEP Clinical stated “WEP Clinical is pleased to partner with Medlab Clinical to bring novel cannabinoid medications to patients in Europe and UK. The early clinical trial data and development programme supporting their products in cancer pain management coupled with their unique patented NanoCelle(R) delivery platform is what excites us about working exclusively with Medlab in the cannabis-based medicine space.”
Over the next 3 months, Medlab and WEP will undertake the required work to prepare for the entry of both NanaBis(TM) and NanoCBD(TM) into the UK.
Mr Laurence McAllister (Medlab Board Director) stated: “This Compassionate Program approval for the UK & Europe coupled with the Special Access Scheme (SAS) in Australia is now creating the Medlab, NanaBis(TM), NanoCelle(R) and NanoCBD(TM) branded Medlab trademark awareness in clinicians and patient’s hands to build the trusted quality of the hard clinical trials and R&D bench work behind the medicine, and now we need to finalize the North American initiative with the FDA that is well developed as soon as possible.”
About WEP Clinical:
Established in 2008, WEP Clinical is a specialist services company that works with drug developers to help patients and physicians gain early access to medicines when no other treatment options are available. We have offices located in London, United Kingdom; RTP North Carolina, United States; Lisbon, Portugal; and Dublin, Ireland and possess all the necessary licenses allowing us to meet drug access and distribution needs across all regions, worldwide. We are passionate about helping those in need. For more information, please visit www.wepclinical.com
About Medlab Clinical Ltd:
Medlab Clinical Limited (ASX:MDC) is pioneering the development and Commercialisation of a delivery platform, allowing for enhanced medical properties, including increased efficacy, safety, patient compliance and stability. Medlab’s pipeline comprises a number of small and large molecules from repurposing generic medicines to enhancing the delivery of immunotherapies. Patented lead drug candidate NanaBis(TM) has been developed for cancer bone pain as a viable alternative to opioid use. Data to date, strongly suggests NanaBis(TM) may be equally effective in non-cancer neuropathic pain. NanoCelle(R), the patented delivery platform is wholly owned by Medlab and developed in Medlab’s owned OGTR Registered Laboratory. NanoCelle(R) is designed to address known medication problems, addressing global unmet medical needs. Medlab operates in Australia (Head Office), USA, and the UK.
Source:
Medlab Clinical Ltd
Contact:
Medlab Clinical
Dr. Sean Hall, CEO
Sean_hall@medlab.co
Medlab US Investor Relations
Laine Yonker
lyonker@edisongroup.com
News Provided by ABN Newswire via QuoteMedia
(TheNewswire)
New patent granted in India bolsters worldwide patent coverage, adding to existing patents in the EU, the U.S., and Australia
Kelowna, British Columbia TheNewswire – May 12, 2021 Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (CSE:LXX) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces further expansion of its intellectual property portfolio with its first-ever patent granted in India.
The patent is titled “ Stable ready-to-drink beverage compositions comprising lipophilic active agents” and is of particular importance given the size of the Indian population, which is nearly four times as large as the U.S. population . The patent is valid for 20 years from the patent application date of Dec. 1, 2016.
“This is our 19 th patent granted worldwide, allowing us to innovate in the ready-to-drink beverage composition category around the world,” said Chris Bunka, CEO of Lexaria. “This new patent complements our existing suite of granted patents spanning the EU, the U.S., and Australia, and provides intellectual property protection to both consumer-packaged goods as well as registered drug applications. We believe these are robust growth categories that add to Lexaria’s strategic value.”
This is the second patent granted from Lexaria’s third patent family. Lexaria’s patent application suite has grown to a total of 13 patent families. Active ingredients that may be used under this new patent include NSAIDS (e.g., acetylsalicylic acid, ibuprofen, diclofenac, indomethacin, piroxicam), fat-soluble vitamins, and acetaminophen. Active ingredients under the new patent also include nicotine and cannabinoids.
Claims granted cover a wide range of product formats, including non-carbonated beverages, carbonated beverages, colas, root beers, fruit-flavoured beverages, citrus-flavored beverages, fruit juices, fruit-containing beverages, vegetable juices, vegetable-containing beverages, teas, coffees, dairy beverages, protein-containing beverages, shakes, sports drinks, energy drinks, and flavored waters.
Lexaria has patent applications progressing in countries around the world with aggregate populations of approximately 3.7 billion people and will report on further progress as information becomes available.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.’s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company’s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1–2 hours to minutes, and mask unwanted tastes. DehydraTECH is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies, including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products, and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 19 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com .
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Recreational cannabis remains illegal in all Australia’s states and territories with the exception of the Australian Capital Territory (ACT). But could that change in the future?
So far there are no clear indicators as to when or if Australia could legalise recreational cannabis, but attitudes seem to be changing. Public support is growing, and there’s even some political acceptance.
Read on to learn more about when Australia may legalise recreational cannabis.
Australians are no strangers to cannabis — a recently updated report from the Australian Institute of Health and Welfare shows that marijuana is the most extensively used illicit substance in the country.
With that in mind, it’s perhaps unsurprising that views on cannabis are changing in the country. In 2019, Australia’s National Drug Strategy Household Survey found that 41 percent of Australians are in favour of legalising cannabis — that’s close to double the support seen when the survey was done in 2007.
Aside from that, legalisation has been recommended by a number of government inquiries, including a 2019 Queensland Productivity Commission report on imprisonment and recidivism.
Several states have decriminalised personal use of cannabis on private property, including the ACT, the Northern Territory (NT) and South Australia. Most other states have a discretionary almost de facto decriminalisation in place through police diversion programs.
Those arrested for small amounts of under 50 grams of cannabis can be diverted to drug counselling or education, or issued a fine rather than a criminal conviction.
Although Australia’s economy ended 2020 on a high note after facing COVID-19-related setbacks, some experts believe cannabis legalisation could assist even further with economic growth.
The climate of the NT and its accessibility to Asia makes the likelihood of legalised marijuana a possible gold mine for the NT, according to economist Rolf Gerritsen.
“The Government, if it licensed the system and appointed official sales points, could actually set up a nice little industry with the possibility of future exports,” Gerritsen told ABC News.
In 2020, Australia’s economy plunged into its first recession in three decades due to fallout from the coronavirus, which came mere months after devastating bushfires that ravaged over 12 million hectares.
During the fall, a Twitter campaign from the Australian Greens political party pushed for legalisation to help pull the nation out of its recession, declaring cannabis a “multi-billion dollar industry.”
Although exciting, it seems unlikely that the Australian government will legalise marijuana at this stage.
Outside the Twitter campaign mentioned above, legalisation of cannabis has been a big part of the platform for the Greens, which are seeking the establishment of a controlled market for the sale of cannabis and would allow members of the public to grow up to six plants.
But the Greens are currently the only political party pushing for legalisation of recreational cannabis.
Both the Liberal National Party and Australian Labor Party have only shown support for medicinal cannabis at a federal level. In fact, Australian Attorney-General Christian Porter has been vocally opposed to the legalisation in Canberra, declaring the laws “terrible” and saying state- and territory-level laws conflict with federal laws on possession.
Many were looking towards the outcome of a New Zealand referendum on legalisation that failed as 50.7 percent voted “no” to the 48.4 percent “yes” votes.
A report from cannabis researcher Prohibition Partners hypothesizes great potential for Australia to significantly increase value through cannabis exports, while a focus on buying local could see more domestic cannabis revenue than ever before.
Success could encourage more regions to look closely at their own reform measures, particularly after watching the ACT’s adoption of restricted cannabis legalisation, the study argues.
“Both Victoria and Tasmania are also making moves towards more lenient cannabis laws and could be following in the ACT’s footsteps,” said the report’s authors.
“The Victorian government invested in R&D of the local industry, and is said to have ambitions to be the ‘cannabis bowl of Australia’ with a target of 500 local jobs.”
The report predicts the Australian cannabis market will break a total market value of US$1.5 billion by the year 2025, which would make it the largest legal cannabis market in Oceania. Eagle-eyed investors will be watching the market closely.
Don’t forget to follow @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
Australia made waves when it federally legalised medicinal cannabis in 2016, and its marijuana market has experienced significant growth since then.
A study from FreshLeaf Analytics pegs Australian medical market sales at AU$95 million in 2020, while research firm Prohibition Partners indicates that Oceania’s cannabis industry is expected to be worth US$1.55 billion by 2024; medicinal cannabis is expected to account for 40 percent of the industry.
Despite that growth, the country’s cannabis industry is still young. Recreational use is not yet in sight, and even medical access remains limited and highly regulated.
Currently only one medicinal cannabis product, Sativax, is registered with the Therapeutic Goods Administration (TGA), and none are subsidised through the country’s Pharmaceutical Benefits Scheme. Patients who want access to medicinal cannabis must go through special pathways, and doctors who want to prescribe medicinal cannabis have to apply to do so.
The situation gets more complex at the state and territory level, as each area of Australia has different rules and regulations that must be followed. Read on for a breakdown of the laws for medicinal and recreational cannabis in Australia’s six states and two territories.
Use, supply and possession of cannabis is illegal in New South Wales (NSW); however, first-time offenders with a small amount on hand may only be issued a caution. Up to two cautions can be received, and they often come with a referral for drug-related information.
The NSW government recognises the potential of medicinal cannabis to treat debilitating or terminal illnesses. Any doctor can prescribe medicinal cannabis if it is determined an appropriate treatment and the doctor has the approvals required to do so.
In another show of support for the drug, the NSW government has established the Centre for Medicinal Cannabis Research and Innovation to educate the community and monitor clinical trials.
Recreational possession and use of cannabis is a criminal offence in Victoria, but similar to NSW, those caught with a first offence of 50 grams or less are typically given a caution and directions to attend drug counselling. It’s more serious if there are additional charges or if a person is found with an amount over 50 grams; 250 grams is considered a traffickable quantity of cannabis.
Medicinal cannabis can be prescribed by any doctor for a patient with any condition if they believe it is clinically appropriate. Victoria was the first state to legalise medical marijuana use, and young children suffering from epilepsy were the first to gain access.
In Queensland, growing cannabis or recreational use is illegal under four different acts. Under the Drug Misuse Act 1986, unlawful possession, supply, production and trafficking have maximum penalties of up to 25 years imprisonment, depending on circumstances such as how much cannabis is involved.
Medicinal use is less frowned upon in Queensland as any registered medical practitioner in the state can prescribe medicinal cannabis if clinically appropriate.
After new legislation changes in June 2020, any Queensland doctor can prescribe Schedule 4 CBD or Schedule 8 THC or CBD products without formal approval from state health authorities.
Medicinal cannabis can be administered via vapour, capsules, sprays or tinctures — smoking cannabis is not allowed in Queensland. Interestingly, advertising medicinal cannabis is restricted to the medical, wholesale and pharmaceutical professions only.
Cannabis, cannabis oil and cannabis resin are all illegal to keep, use, grow, sell or give away in South Australia. Possession for personal use can be penalised with an expiation, which means a fine that does not attract a criminal conviction. Large-scale trafficking or selling can attract big penalties of up to AU$500,000 and 15 years to life imprisonment, or both.
Those looking for medical cannabis products can obtain them via prescription from an authorised medical practitioner in the region.
Approval under South Australian Controlled Substances legislation is also often required, although there are exemptions for elderly and terminal patients.
Even though Western Australia (WA) officially decriminalised cannabis in 2004, Liberal Premier Colin Barnett repealed the decision in 2011 as part of a “tough on crime” approach.
Today, driving with THC in your system is an offence in WA, regardless of whether it is medicinal or recreational. Personal cultivation is illegal.
Medicinal cannabis is available via prescription from any doctor in WA providing they have the required government approval. Prescriptions can be dispensed at any pharmacy.
Obtaining medicinal cannabis is arguably most complicated in Tasmania. A patient must have their general practitioner refer them to a relevant specialist; the specialist can then provide medicinal cannabis in limited circumstances once conventional treatment has been unsuccessful.
Tasmania is taking steps to make medicinal cannabis more accessible. Starting on July 1, 2021, general practitioners will be able to fill out prescriptions, although the process is still expected to be slow.
Possession of cannabis is illegal in Tasmania — in fact, any utensil or appliance for preparation, smoking, or inhalation of cannabis is illegal and can attract a maximum fine of AU$7,950. Trafficking an amount of 25 grams of oil or 1 kilogram of plant material carries a serious imprisonment term of up to 21 years.
Cannabis is largely decriminalised in the NT, but possession of a small quantity in a public place still carries an imprisonment penalty. Possession of less than 50 grams in your own home is penalised with a fine only. The penalty for cultivating, even small amounts of less than five plants, is 200 penalty units or two years imprisonment. A commercial quantity of more than 20 plants results in life imprisonment.
The first NT medicinal cannabis patient to fill a script did so in November 2019, but uptake has been slow since then and the NT has a low number of users. That’s largely because there are few doctors who are authorised prescribers in the NT — as the area is remote, travel is not feasible for all residents.
In September 2019, the Australian Capital Territory (ACT) passed a bill to legalise the possession of small amounts of cannabis for personal use as of January 31, 2020. Confusingly, the ACT’s state laws conflict with federal laws, which still prohibit the recreational use of cannabis.
ACT residents who are over 18 can carry up to 50 grams of cannabis and grow as many as four plants — although the 50 gram amount is less than what one plant produces. Plants must also be grown outdoors only, leaving them open to theft.
Medicinal cannabis is available for patients with a number of conditions and also on a case-by-case basis. Doctors must have approval from the ACT chief health officer and the TGA to prescribe.
Don’t forget to follow @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
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It’s been just over a year since recreational cannabis was legalised in the Australian Capital Territory (ACT), home to the nation’s capital city of Canberra.
Announced on September 25, 2019, and brought into effect on January 31, 2020, the rules make it legal to possess and personally use small amounts of cannabis.
The territory was the first jurisdiction in Australia to put a policy like this in place, and it’s still the only part of the country where cannabis is recreationally legal. So what are the biggest takeaways investors should consider after this monumental change? Here’s a closer look at what happened.
As mentioned, the changes in the ACT’s cannabis laws were first revealed on September 25, 2019, although they didn’t come into effect until January 31, 2020. Recreational legalisation ultimately pulled through, but it faced strong opposition from the federal government.
Attorney-General Christian Porter was particularly displeased. He was quoted by Reuters in October 2019 as calling the reforms “crazy” — he pointed out that the new rules go against Commonwealth law, rendering them essentially ineffective.
“The ACT laws removed the criminal component at a territory level but didn’t establish anything that is a positive right to possess, which means that there’s no defense to the Commonwealth law that criminalizes amounts under 50 grams,” Porter said.
“My advice and the advice that I’ve provided to the ACT attorney-general is that it is still against the law of the Commonwealth to possess cannabis in the ACT.”
Ultimately the ACT did do what it set out to do. The reforms came in large part thanks to Australian Labor Party backbencher Michael Pettersson, who introduced a private members bill in 2018 that he deemed “sensible” — after being redrafted, it was passed.
“This model is different to what most people think of cannabis legalisation,” he said. “This isn’t Colorado, this isn’t Canada. There are no dispensaries getting set up under the system. This (bill) simply means that individuals caught with small amounts … for personal use will not face criminal charge.”
Since January 31, 2020, adults in the ACT have been permitted to grow two cannabis plants (with a maximum of four per household). There are also specific rules about where and how plants can be propagated — they cannot be accessed by the public or grown using hydroponics or artificial light.
Adults can also possess up to 50 grams of dry cannabis per person, or 150 grams of wet cannabis, for use in their own home — this has been dubbed personal use.
But it is still an offence to smoke or use cannabis in a public setting, or to expose a child to cannabis. In fact, selling, gifting or giving weed or even cannabis seeds is still an offence. It’s also worth noting that — as Porter pointed out — the new ACT rules still carry a degree of risk as they directly conflict with Commonwealth law regarding cannabis.
“This does not entirely remove the risk of people being arrested under Commonwealth law, and we are being up front with the community about that,” ACT Attorney-General Gordon Ramsay said at the Legislative Assembly in September 2019.
“The ACT’s legislation attempts to provide a clear and specific legal defence to an adult who possesses small amounts of cannabis in the ACT, but is prosecuted under Commonwealth law.”
In some ways it’s still too early to tell how successful the ACT’s new cannabis program may be. With limitations from Commonwealth law, the likelihood of a regulated commercial cannabis market in the ACT appears unlikely at this time.
That said, data from ACT police given to ABC shows no meaningful or dramatic increase in drug arrests or drug-driving charges since legalisation.
Aside from that, it’s possible that the ACT may make progress on decriminalising other substances. In 2021, the territory’s Legislative Assembly is set to introduce a new bill to make Canberra the first place in Australia to decriminalise illicit drugs, including MDMA, heroin and methamphetamines.
Savvy investors would be wise to closely monitor the ACT, although changes to Commonwealth law to legalise cannabis aren’t on the horizon quite yet.
Don’t forget to follow @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
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