Weed Week: Cannabis advent calendars and US Republicans introduce weed bill for veterans
Health & Biotech
Health & Biotech
Instead of a chocolate advent calendar this year, Californians can get their hands on a cannabis calendar with edibles, prerolls, grams of flower and four days of cannabis accessories.
“We’ve seen the success of unique advent calendars in other industries,” MonthLeaf president and CEO Bryanne Vincent said.
“This was a way that we could provide our customers with a fun and engaging gift that they can enjoy for an entire month.”
And it might not be long until the calendars are available in the rest of the states, with a new Republican bill soon to be introduced in Congress to legalise and tax cannabis.
The House Veterans’ Affairs Committee has already approved a bill requiring the Department of Veterans Affairs to conduct clinical trials on the medical benefits of marijuana for military veterans with PTSD and chronic pain.
A ‘National Defence Authorization Act amendment’ has been filed that would federally legalise medical marijuana for military veterans – and would allow Department of Veterans Affairs doctors to issue cannabis recommendations and require the department to research marijuana’s therapeutic potential to reduce pain and opioid misuse.
Even Malaysia has made moves to legalise weed, sort of.
The country will allow the import and use of cannabis for medicinal purposes with sellers having sufficient scientific evidence to use cannabis for medicinal purposes able to apply for their product to be evaluated by the Drug Control Authority in order for it to be marketed in Malaysia.
On our side of the pond, private company Extractas Bioscience (formerly Tas Alkaloids) has signed a three-year partnership deal with Victorian-based manufacturing company Ensign Laboratories to substantially increase its medicinal cannabis formulation capacities.
In 2019, Extractas constructed a purpose-built, medicinal cannabis cultivation, extraction, formulation and manufacturing facility – which will now produce more than 30,000 bottles per week of finished products under GMP conditions.
“In combination with our extraction capacity of 90 tonnes of biomass/annum we believe that this makes us the GMP* medicinal cannabis manufacturer of choice with one of the largest production capabilities in the Southern Hemisphere,” Extractas executive general manager medicinal cannabis Dr Amy Choi said.
Plus, the company will be the preferred supplier of medicinal cannabis Active Pharmaceutical Ingredients (APIs) to Ensign.
Leader of the pot stocks was Medlab Clinical (ASX:MDC), up 19% after the US patent office granted patent protection for its NanoCell technology which creates water-soluble nanoparticles that optimise medicinal spray delivery to the lungs.
It’s ideal for people who have difficulties swallowing, fear needles, or experience gastrointestinal complication which can limit absorption.
Plus, the company received AusIndustry Advanced Overseas Finding Approval – Australian Federal Government’s R&D Tax Incentive program – for its NanaBis development program.
Total expenditure for NanaBis development in Australia and overseas for the three-year period is expected to be $26,981,176.
Next up was Creso Pharma (ASX:CPH) which rose 15% off the back of its subsidiary Halucenex’s key psychedelic ingredient passing crucial testing, and progressing towards Phase II clinical trials to test its efficacy on treatment resistant Post Traumatic Stress Disorder.
The company also released its September quarterly which detailed purchase orders secured in Poland for its animal health products and the launching of a new ecommerce platform for new human health products in Switzerland – and the completion and registration of import procedures in Uruguay as a launching off point in Latin America.
Creso is also planning to pursue a NASDAQ dual listing.
Up 13% was Incannex (ASX:IHL), with a psilocybin treatment for generalised anxiety disorder that has received positive feedback from US health regulators following the submission of its pre-investigational new drug application.
The company has also received ethics approval to commence trials at Monash University.