Weed Week: Jim Belushi headlines cannabis expo and the first legal seedbank established in Denmark
Health & Biotech
Health & Biotech
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Victoria – in British Columbia sorry Melbournians – is set to host the Grow Up Conference and Expo next month with 3,000 cannabis experts and works expected to attend.
The headliner is Jim Belushi, a cannabis farmer and star of the Discovery Channel show Growing Belushi.
In addition to sharing his journey creating Belushi’s Farms, “the cannabis connoisseur will discuss the passions that spurred his entry into cannabis and the challenges he’s faced in growing and remaining nimble in an ever-changing industry,” the website states.
— Cannabis Farmer: Jim Belushi (@JimBelushi) April 27, 2022
Plus, attendees can expect to enjoy hands-on cannabis-growing workshops, a cannabis extractions showcase as well as an expert panel on psychedelic drug therapy and regulation.
In Europe, Franchise Global Health has established the first legal and registered seedbank in Copenhagen, Denmark.
The seedbank holds 286 strains and is licensed to store, sell and export cannabis seeds globally under legal international trade frameworks and import/export permits.
“Our goal is to become Europe’s most trusted source of high-quality EU-GMP cannabis,” Franchise Global executive chairman and CEO Clifford Starke said.
“This will be achieved in part by establishing our seedbank as a source for high-quality, Cannabis-Cup winning genetics.
“Essentially this is 30 years’ worth of IP from land races all around the world with strong genetic heritage including from Thailand, Colombia and other highly sought-after sources of origin.”
On our side of the pond, the Greens are promising to reform cannabis laws if they secure the balance of power at the federal election.
The idea is to regulate and tax legalised cannabis to make it safer for adults who use it and divert money to infrastructure like hospitals and schools.
Under the Greens plan, adults would be able to grow six plants at home for personal use or buy from cannabis retail shops and licences to produce or sell would go through an Australian Cannabis Agency.
Only 7 companies were in the green, with 9 companies flatlining and 21 stocks in the red.
The US FDA has granted Botanix new Qualified Infectious Disease Product (QIDP) designation for its investigational cannabidiol antibacterial product, BTX 1801.
The new QIDP status applies to the use of BTX 1801 to potentially reduce the risk of staphylococcus aureus bloodstream infections.
“This designation is supported by our Phase 2 clinical study results and a recent health outcomes study that highlighted the impact of bloodstream infections in hemodialysis patients that use central venous catheters for access,” president and executive chairman Vince Ippolito said.
“These life-threatening infections in this vulnerable population are estimated to cost the US health system more than $360 million annually.”
The major incentive afforded to a product with QIDP status is an additional five years of regulatory exclusivity, on top of the standard regulatory exclusivity that comes with FDA approval of a New Drug Application (NDA).
Basically, this incentive could potentially enhance the value of a successful product because it provides an extra five years of protection – during which generics cannot enter the market.
The company is set to expand into the European cannabis market after signing a binding terms sheet with European Cannabis Corporation (Eurocann) to exploit mutual opportunities in the European and Australian cannabis markets.
Under the term sheet, the parties will establish a joint steering committee to focus on AusCann’s self-emulsifying drug delivery technology (SEDDS), for the development of standardised dosage form cannabis products for commercialisation in Germany.
The parties will also collaborate on the import of EU-GMP cannabis products into Australia, ahead of recently announced changes to the Therapeutic Goods Order 93 (TGO93) – which is expected to prevent some of the current international manufacturers, that had not previously been required to comply with TGO93 or equivalent GMP codes, from supplying the Australian market with finished cannabis products.
AusCann says this presents an attractive opportunity for the companies to supply low-cost EU-GMP cannabis products into Australia.
The company has also entered into a secured loan facility for up to $5 million with Eurocann to provide capital expenditure to scale up its European cannabis cultivation and extraction capabilities to support the collaboration.
LGP has signed a three-year agreement for distribution of its branded Classic Oils, Desert Flame flower, and a further balanced flower product currently in development, to Sana Life Sciences, to be sold across the UK.
The term is three years from first import with extension by agreement, with minimum purchase orders for flower products between 10-20kg post ramp-up and 500 oil units per shipment.
The company says the agreement represents an annual revenue opportunity of $1.44m, with first revenue expected in late Q2 or early Q3 calendar year 2022.
The company has secured a placement of up to $2.1 million to support the continued ramp-up of operations at the Southport Facility – which is the largest GMP cannabis manufacturing facility in the Southern Hemisphere.
EPN has a strategic partnership with The Valens Company (NASDAQ: VLNS), a leading cannabis consumer products company with significant expertise in manufacturing cannabinoid based products, for operation and management of the facility – and expects Southport should become EBITDA positive to the group on a go-forward run rate basis.
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