AusCann trio to share medical cannabis knowledge with Aussie doctors
Health & Biotech
Health & Biotech
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A trio of medical liaison officers are ASX-listed AusCann’s latest effort to educate Australian doctors and open up a conversation around prescription of its medicinal cannabis products.
It’s the next step for AusCann (ASX:AC8) as the company moves towards cultivation, production and supply of cannabinoid medicines for treatment of chronic pain.
AusCann’s shares closed down 2 per cent at 50.5c on Thursday.
“In order for our products to be recognised among practitioners as a viable option for the treatment of chronic and neuropathic pain it is increasingly important that we continue to engage and educate the medical community about the therapeutic benefits of cannabinoid medicines,” managing director Elaine Darby said.
The outreach program will be headed by Dr Danial Schecter, the founder of the largest referral clinic in Canada, and focus on showcasing how cannabis therapies are being used in other countries.
With an increasing number of companies investing heavily in medicinal cannabis, the Australian Medical Association (AMA) has warned patients to beware of hype.
“The AMA does not believe that medicinal cannabis should be held to any higher or lower standards for evidence of quality, safety and efficacy than other therapeutic products,” vice president Dr Tony Bartone said.
“There is some evidence suggesting cannabinoids have efficacy for the treatment of neuropathic pain, muscle spasticity for patients with MS, and in controlling nausea for cancer patients.
“Those patients would necessarily be people with severe symptoms that are not able to be addressed by existing medications.
“There is limited evidence on the long term effects of medicinal cannabis.”
The initial cannabis for AusCann’s products will be supplied by North America’s largest producer, Canopy until local production is progressed.
Shares have traded between 19 and 94c in the past 12 months.
AusCann reported a $13 million loss last financial year and had $15 million in the bank at the end of the period.