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The Hydroponics Company Receives Import Permits in Australia

Ryan Allway

February 28th, 2018

News

The Hydroponics Company Limited (ASX:THC) (“THC”) is pleased to advise that the Drug Control Section of the Department of Health has granted THC permission to commence importing medicinal cannabis products from its European partner, Endoca. The Endoca product range includes;

  • 15% RAW CBD oil, 10ml
  • 15% Heated/decarb CBD oil, 10ml
  • 3% RAW CBD oil, 10ml
  • 3% Heated/decarb CBD oil, 10ml

The approval by the Drug Control Section of the Department of Health is a significant step forward which will enable THC to commercialise its distribution agreement with Endoca by importing medicinal cannabis products into Australia. Endoca is a global leader in the supply of product sourced from Hemp plants, with a focus upon delivery of the highest quality CBD products. These products have been used successfully in Europe in the treatment of Epilepsy and associated neurological disorders. THC will make these products available through both the National Access Clinics that it will be establishing, as well as direct order for patients on the Special Access Scheme or working with an Approved Prescriber.

THC confirms NAC Canada’s Systems Implementation Manager, who arrives in Sydney this week on a 6-month secondment, will transfer intellectual property from NAC Canada in the form of operational support to facilitate an adapted clinics model aligned to the Australian clinical and regulatory environment. Access to treating key opinion leaders in Canada will facilitate informed prescribing through the development of treatment protocols based on available product ranges.

Commenting on the approval, THCs Chief Executive Officer, David Radford, said: “With the approval to commence importing Endoca’s highest quality product range, THC is well placed to begin commercialisation and we look forward to developing this long term relationship”

In addition, BOL Pharma Limited (BOL), a leading Israeli medicinal cannabis company, confirms supply of investigational medicinal product in the form of a proprietary sublingual tablet containing THC and CBD, to further research into the potential benefits of medicinal cannabis in Tourette’s Syndrome. An Australian-first study of medicinal cannabis as a treatment for the debilitating neurological condition Tourette syndrome is to be conducted by Wesley Medical Research.

Canndeo Limited, a wholly owned Australian subsidiary of THC, will act on behalf of BOL to facilitate provision of the investigational product in support of the clinical trial conducted by Wesley Medical Research. The trial is expected to commence Q2 2018. Wesley Medical Research Institute neuropsychiatrist Philip Mosley said they will trial the medicinal cannabis product in 24 adults with severe Tourette syndrome. Dr Mosley added “many doctors were unwilling to prescribe medicinal cannabis because there’s very limited evidence for it for most conditions. I’m hoping that this trial will enable doctors to prescribe with more confidence if they have a patient with Tourette syndrome.”

The Israeli government recently announced approval for the commercial export of medicinal cannabis is still pending, however, export of products for international research purposes is permissible. This will enable BOL and Canndeo to explore further targeted research in Australia

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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