The Hydroponics Company (ASX: THC) has been given the green light to import medicinal cannabis products from its European partner Endoca after locking in a distribution deal last November.
The company also today announced it will be supporting an upcoming clinical trial for the treatment of Tourette’s Syndrome, via its recent collaboration with BOL Pharma.
In November last year, The Hydroponics Company’s wholly-owned subsidiary Canndeo Ltd secured an agreement with Endoca to distribute medicinal cannabis products throughout Australia.
The company today reported the Drug Control Section of Australia’s Department of Health has given approval to import four Endoca products, all in 10ml portions: 15% raw cannabidiol (CBD) oil, 15% heated/decarboxylated CBD oil, 3% raw CBD oil, and 3% heated/decarboxylated CBD oil.
Endoca’s CBD products have been used successfully in Europe in the treatment of epilepsy and associated neurological disorders.
The products are expected to be made available through both the National Access clinics that The Hydroponics Company will be establishing, as well as via direct order for patients on the Special Access Scheme or working with an approved prescriber.
Also in November, Canndeo teamed up with Israel’s BOL Pharma to supply the latter company’s CBD products.
The Hydroponics Company announced today that Canndeo would be acting on behalf of BOL Pharma to supply an investigational medicinal product for a clinical trial researching the potential benefits of medicinal cannabis in the treatment of Tourette’s Syndrome.
The product will be in the form of a sublingual tablet (where the medication is placed under the tongue to dissolve into the bloodstream) containing CBD and tetrahydrocannabinol, the two most prominent cannabinoids found in the cannabis plant.
The trial will be conducted by Wesley Medical Research and is expected to start in the second quarter of 2018.
The Hydroponics Company also noted that approval for the commercial export of medicinal cannabis is still pending in Israel, however export of products for international research purposes is permissible.
The Hydroponics Company shares were up 2% on the news by afternoon trade on Wednesday.