AusCann Group Holdings Ltd A.C.N: 008 095 207...

AusCann Group Holdings Ltd A.C.N: 008 095 207
http://www.auscann.com.au/
Email: [email protected]
Phone: +61 (0) 8 9561 8834
Registered Office: 85 Carabooda Road, Carabooda, Western Australia, 6033
11 July 2017
AUSCANN - TASMANIAN ALKALOIDS LICENCES SECURED
• Australian medicinal cannabis licence, and a research and development licence,
granted to AusCann’s strategic partner Tasmanian Alkaloids
• The licences are a significant milestone in the AusCann and Tasmanian Alkaloids
strategic partnership
• The strategic partnership is now well placed to progress its strategy to become a
leading supplier of Australian produced high quality, clinically validated and
affordable medicinal cannabis to Australian patients
AusCann Group Holdings Ltd (ASX:AC8 or ‘the Company’) is pleased to announce its
strategic partner Tasmanian Alkaloids Pty Ltd has been granted a medicinal cannabis
licence and a research and development licence from the Office of Drug Control.
AusCann and Tasmanian Alkaloids entered into an exclusive strategic partnership in May
(see announcement dated 17 May 2017) to jointly establish cultivation, manufacturing and
distribution operations for medicinal cannabis in Australia and overseas.
Tasmanian Alkaloids, owned by the global private investment firm SK Capital Partners, is
one of the world’s largest manufacturers of controlled substances, producing medicinal
opiates grown in Tasmania. Operating since 1976, today Tasmanian Alkaloids produces
approximately 40% of the world’s opiate crop in Tasmania. It boasts a modern
manufacturing facility which is fully compliant with Good Manufacturing Practice standards.
Tasmanian Alkaloids has established relationships with many of the world’s leading
pharmaceutical companies and is the largest producer and exporter of thebaine, and also
produces oripavine and codeine at its Tasmanian facility.
The Tasmanian licences are in addition to AusCann’s current medical cannabis cultivation
licence granted in May by the Office of Drug Control.
Elaine Darby, Managing Director, AusCann commented: “This is a major milestone for the
strategic partnership and represents significant progress in our joint strategy to become a
leading producer and supplier of high quality medicinal cannabis to Australian patients.”
AusCann will import medicines from its partner Canopy Growth Corporation, North
America’s largest producer of medicinal cannabis, ahead of the parties being able to supply
Australian medicines, to address immediate need.
The comprehensive report by the US National Academies of Science Engineering Medicine
released earlier this year confirmed that there is substantial and conclusive evidence for
the use of medicinal cannabis in the treatment of chronic pain symptoms. The need for
chronic pain control in Australia is substantial and represents a market of over 3 million
patients.
Studies have shown that the inclusion of medicinal cannabis into existing pain management
regimes involving opiates resulted in an improvement in pain management and quality of
life outcomes, and less adverse side effects.
1
Cannabinoids and opioids share several
1 Haroutounian et al. (2016) Clin J Pain, 32(12):1036-1043
Abrams DI et al. (2011) Clinical Pharmacology & Therapeutics, 90(6):844