Weed Week: Woody Harrelson opens weed dispensary and Byron Bay could be home to a cannabis resort
Health & Biotech
Health & Biotech
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It’s not surprising that Woody Harrelson loves weed – the actor was actually arrested in 1996 in Kentucky after attempting to challenge the state law which did not distinguish between industrial hemp and marijuana.
And now he’s opened up a dispensary in West Hollywood called The Woods WeHo, which is described as “a tasteful elevation of the retail cannabis experience designed for every kind of cannabis devotee.”
“Twenty four years ago, Woody Harrelson was thrown in jail for planting hemp seeds in Kentucky. Today, he welcomed the media, the mayor and and the West Hollywood public into his very own, totally legal cannabis store.” https://t.co/MJsz18uSs5 pic.twitter.com/Djfcc38X41
— KY NORML (@KentuckyNORML) May 18, 2022
On our side of the pond, Releaf Group announced plans for a cannabis-focused retreat near Byron Bay in New South Wales where patients will be able to consume medicinal cannabis on-site.
Releaf says patients will have access to nutritionists, doctors, medical specialists and other allied health professionals focusing on general wellness, sleep, pain and anxiety-related issues.
Founder and CEO of Releaf Group Gary Mackenzie said Zoll Wellness would be the first cannabis wellness centre in the Asia-Pacific Region.
“The partnership also provides RGL with bricks and mortar assets that strengthen the company’s balance sheet as we progress towards a planned IPO listing,” he said.
A total of 12 companies were in the green, with 6 companies flat and 19 stocks in the red.
The company recently signed a formal deal to buy out APIRx – which has been working on cannabinoid treatments for pain management, dementia, Parkinson’s disease, restless leg syndrome, gastrointestinal diseases, periodontitis, addiction disorders, skin, and ophthalmic conditions.
The deal reinforces IHL’s position as a global medicinal cannabis and psychedelic powerhouse.
The two companies when combined will hold the largest portfolio of patented medicinal cannabinoid drug and psychedelic treatment protocols.
Plus, this week IHL announced it had received positive feedback with the US Food and Drug Administration (FDA) during discussions over its IHL-42X drug, in development to treat the obstructive sleep apnoea (OSA) in adults.
Incannex says the FDA reps gave positive feedback and had real interest in the drug, not least because of the large and growing number of people diagnosed with OSA – and the lack of treatment options that sufferers face. There are in fact no registered drugs in the market for sleep apneoa and IHL wants IHL-42X to be the first.
The company says its Paediatric Autism Spectrum Disorder Study protocol is being modified to accommodate the ongoing treatment of study participants using NTI164 – after a ‘significant’ number of requests from patient’s parents and caretakers.
NTI164 is the lead strain being used in Neurotech’s world’s first full-spectrum medicinal cannabis product (less than 0.3% THC) to be successfully trialled in children with ASD at Monash Children’s Hospital in Melbourne.
The original study design was developed in line with similar study protocols whereby participants would undertake a wash out period, where they reduce and subsequently stop taking the trial treatment.
As a result of the positive impacts that the treatment is having on the children’s ‘overall functioning’, these patients will now remain on the treatment and will continue to be monitored and treated under the guidance of Prof. M. Fahey and the neuropsychology team at Monash Children’s Hospital.
Data relating to safety and efficacy will be collected and available to support relevant regulatory filings.
The company recently published a white paper detailing the analysis of longitudinal, real-world data (RWD) generated from patients using HOPE – its organic tincture for people with autism spectrum disorder.
Results have shown that almost 70% of patients in the study cohort were rated by clinicians as having achieved at least ‘moderate’ therapeutic effect after five months on HOPE.
A total of 25 adverse events occurred in nine individuals, but no serious adverse events were observed. All adverse events were mild and transient.
The HOPE formulation was launched in Australia in October 2020, and is now available to prescribers and patients through the Therapeutic Goods Administrations (TGA) Special Access and Authorised Prescriber Schemes.
“Physicians and patients often ask for proof of the safety, efficacy, and dosing guidelines for cannabinoid-based medicines,” said Zelira Therapeutics CEO, Dr Oludare Odumosu.
“These results now provide additional clinical and regulatory validation for our products as we expand into highly regulated global markets,” he said.
In the latest in a string of deals, LGP has signed a large-volume, take-or-pay contract with Four 20 Pharma for the exclusive supply of a new high-THC strain into Germany.
The agreement is LGP’s largest single-strain offtake quantity contract to date, with a minimum take or pay commitment of $7.5 million over 30 months.
The contract is for LGP’s recently-developed high-THC (25% THC) SMS strain, and will further expand LGP’s traction in Germany following the exclusive deal it signed with Demecan in April.
“We’re very excited by our new SMS strain as well as the opportunity to be partnering with Four 20 Pharma, one of the largest medicinal cannabis operators in Germany,” said LGP CEO Fleta Solomon.
“They have a highly successful track record of supplying its 420 Natural brand cannabis products into the German market,” she added.
Last week MGC announced it had been granted the patent by the Slovenian Intellectual Property Office (SIPO) for its CannEpil drug delivery system designed to treat drug-resistant (refractory) epilepsy with a high CBD, low THC.
The company says the patent provides it commercial protection over the intellectual property associated with CannEpil-IL, including its unique formulation and manufacturing process for 20 years.
However, the ASX issued the company with a speeding ticket stating that the patent appeared to have been granted on 31 March according to SIPOs website– which MGC said it had not been aware of.
Also part of its patent announcement, MGC flagged it had signed an agreement with leading specialty pharmacy supplier, Sciencus Rare, for the distribution of CannEpil and neurological treatment CogniCann.
With a turnover of £1.9 billion, Sciencus Rare is the largest distributor of specialised healthcare solutions for patients with long-term conditions, rare and ultra-rare diseases, spanning 50 different products and partnered with 40 pharmaceutical companies to deliver over 1.2 million orders around the world.
The company has enrolled the first patients for its Schedule 3 CBD clinical trial for Australian Pharmacy Market targeting symptoms associated with insomnia in 200 participants over eight weeks.
The trial is being undertaken with Australia’s leading sleep research organisation, the Woolcock Institute of Medical Research, and once complete, Bod says it will have sufficient data to bring a new product to market, designed for Australia’s Schedule 3 (pharmacist only) market – which has a potential market value of $250m and around 2m customers.
“Data generated from the initiative will also allow Bod to progress product registrations with the US FDA and European EMEA Union, significantly broadening Bod’s international footprint,” CEO Jo Patterson said.