Australian medicinal cannabis company AusCann has welcomed the recent passage of legislation described by Health Minister Sussan Ley as the 'missing piece' for Australian patients and their doctors to access a safe, legal and reliable supply of medicinal cannabis products for the management of painful and chronic conditions.
The Narcotic Drugs Act provides a pathway of legally-grown cannabis for the manufacture of suitable medicinal cannabis products in Australia.
“A national regulator will allow the Government to closely track the development of cannabis products for medicinal use from cultivation to supply and curtail any attempts by criminals to get involved,” said Ms Ley.
According to AusCann managing director, Elaine Darby, “We believe Australian patients have the right to access high quality, clinically tested and cost effective cannabinoid medicines."
AusCann is an Australian-owned company established in 2014 with the aim of producing high quality, medicinal-grade cannabis strains for Australian patients and to potentially export to a range of importers who are licensed in accordance with the UN International Single Convention on Narcotic Drugs 1961.
The company will shortly list on the ASX after a $3 million capital raise.
“We commend the Australian Government for taking this action. It is terrific that the stigma around medicinal cannabinoid products has been lifted and genuine patients will now have access to high quality cannabis medicines,” said Ms Darby.
She said the legislation will enhance Australia’s record as a centre of medical innovation and initiate Australian research and development of cannabinoid medications in a range of diseases.
“We look forward to establishing the Australian medical community’s trust in these cannabinoid medicines by providing products which have strong evidence of clinical effectiveness," added Ms Darby.
