THC gummies are becoming popular for their convenience and effects. Pic: Getty Images
THC gummies are getting popular, here are 3 ASX cannabis companies offering the product
Health & Biotech
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- THC gummies are becoming popular for their convenience and effects
- Bioxyne has produced Australia’s first GMP-certified cannabis gummies
- Bioxyne is expanding production to meet rising demand
Functional foods are growing in popularity as people seek out alternatives to traditional medicine, often choosing edibles like gummies and powders over tablets.
Edible cannabis products (edibles for short) are cannabis-infused items you consume by eating or drinking, rather than by inhaling.
THC (tetrahydrocannabinol) gummies, for instance, have become popular as they offer both medicinal and recreational benefits.
Their long shelf life and precise dosing make them a good choice for managing symptoms such as chronic pain, anxiety, and insomnia.
Delta-9 THC is the key ingredient in THC gummies.
This compound is known for its psychoactive effects, which can induce feelings of euphoria. Unlike CBD, Delta-9 THC interacts with the body’s endocannabinoid system to create sensations of happiness and relaxation.
Even “Iron” Mike Tyson is joining the cannabis gummies scene with a new product exclusively for Colorado: Mike’s Knockout Gummies.
Launched just this week, these THC-infused Knockout Gummies are designed to look like boxing gloves.
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Terrifying.
Tyson’s earlier edibles, such as the Mike Bites shaped like ears (harking back to the controversial end of his famous 1997 Sound and the Fury brawl with Evander Holyfield) couldn’t be sold in Colorado due to a 2017 state law that banned THC products resembling people, animals, or fruit. That measure was taken to avoid confusing these edibles with regular candy.
Making THC gummies involves several steps.
Delta-9 THC is first extracted from cannabis using methods like CO2 or ethanol extraction. The extracted THC is then infused into a gummy mixture, ensuring even distribution. The mixture is poured into molds and allowed to cool and set into gummy shapes.
In Australia, the legality of THC gummies is determined by the cannabis plant’s THC content.
Cannabis classified as marijuana contains more than 0.3% Delta-9 THC, while hemp has less. This distinction is crucial for understanding the legal status of THC gummies.
Can you buy locally-made cannabis gummies in Australia?
On Wednesday, Bioxyne (ASX:BXN) announced a major milestone in the Australian pharmaceutical industry by successfully producing and delivering the country’s first GMP-certified cannabis gummies.
Through its subsidiary, Breathe Life Sciences (BLS), Bioxyne has received initial purchase orders worth around $2 million for these THC gummies, fulfilling the first commercial run under its TGA GMP license.
Earlier, BLS also secured a two-year manufacturing and supply agreement worth a projected $28 million with one of Australia’s leading cannabis companies.
To meet this new demand, BLS says it will be ramping up its production capacity from 2 million doses per month to 6 million.
“BLS is the first Australian manufacturer to complete a commercial production run of pharmaceutical grade GMP-certified THC gummies,” said Bioxyne CEO Sam Watson.
“As a leading Australian cannabis manufacturer, we are supplying our pharmaceutical goods to both domestic and international markets, using established relationships and existing supply channels.”
Currently, cannabis gummies prescribed to patients in Australia have to be produced overseas and then imported.
However since February, BLS has been licensed by the TGA with a GMP certification for producing cannabis gummies locally. This certification positions BLS as a pioneer in the rapidly expanding domestic market.
“Australia is fast becoming a global medical cannabis hub, and BLS is quickly becoming a substantial proponent of that,” said Jason Stephens, General Manager of BLS Australia.
“Our focus is building strong ties with our business customers and providing high-quality GMP-certified manufacturing services.”
Read more: Bioxyne sweetens the pot as Australia’s first manufacturer of pharmaceutical cannabis gummies
Two other ASX companies offering edibles
Another ASX-listed company offering edible cannabis gummies is Avecho Biotechnology (ASX: AVE).
In June last year, Avecho announced that it has developed a new line of cannabis-infused gummies using its proprietary TPM (tocopheryl phosphate mixture) formula.
These gummies were crafted to address a range of therapeutic needs, including pain, anxiety, sleep issues, and various neurological and psychiatric disorders.
The gummies are made from a blend of glycerin and gelatin. Avecho says the gummies have a rapid onset, thanks to the TPM formula.
The specialised drug delivery system, derived from Vitamin E, improves cannabinoid absorption through the mucous membranes in the mouth, bypassing the digestive system.
As a result, the effects of the gummies are felt more quickly and with greater intensity compared to standard edible forms.
Meanwhile, Melodiol Global Health (ASX:ME1) is also offering edibles through its Canadian subsidiary, Mernova.
Mernova has recently launched new edible products:
The Sour Lemon Raspberry gummies, 100% THC, 5mg THC/unit, pack of two gummies, and
The Sour Mango Orange gummies, 1:1 THC:CBD, 5mg THC and 5mg CBD per unit, pack of two gummies.
Read more about that here: ‘Stable, material revenue generating business:’ Melodiol’s Canadian subsidiary maintains strong progress
At Stockhead we tell it like it is. While Bioxyne and Melodiol Global Health are Stockhead advertisers, they did not sponsor this article.
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