Cannabis: Bod has been invited to join a 20,000-patient research project in Europe
Health & Biotech
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Project Twenty21 will be Europe’s largest study on the effects of cannabis in patients with chronic conditions and Bod Australia (ASX:BDA) will be a part of it.
The cannabis small cap is one of five companies invited to participate in the project.
It will enrol 20,000 patients by the end of 2021 and will test medical cannabis on patients with chronic pain and other conditions including sclerosis, anxiety and post traumatic stress disorder.
Bod will aim to treat at least 1,000 people with its CBD oil-based product MediCabilis. It will receive a cost per prescription for units sold.
This comes eight months after it began selling its products in Europe, starting in Belgium and Luxembourg.
The company also announced today it had filled 1,713 prescriptions in 2019, 555 of which were dispensed in October.
CEO Jo Patterson said the invitation positioned Bod as one of Australia’s leading cannabis companies.
“The study provides us with a seamless market entry into the United Kingdom and the opportunity to solidify a footprint ahead of legislative and regulatory changes,” she said.
Bod shares gained 4.5 per cent this morning.
Roto-Gro (ASX:RGI) is close to a deal to build legal cannabis cultivation facilities in Malaysia and Thailand. The company signed an MoU with a local company, Rotary Garden Systems (RGS) to build a plant. RGS will provide the capital and RotoGro will provide its maintenance systems. The company said this morning the facilities would be the first of its kind in Asia and it would endeavour to secure a cannabis licence from the Thai and Malaysian governments. Roto-Gro shares rose 6 per cent at market open.