A medicinal cannabis producer with Tasmanian links has supplied its first patients and is briefing doctors on its products.
AusCann Group Holdings Limited – which has an agreement to source cannabis resin from Westbury-based Tasmanian Alkaloids – said the first orders of its controlled-dose capsules were received during the June quarter and supplied to Australian patients under special access schemes.
“During the quarter, AusCann’s medical affairs team educated healthcare professionals on cannabinoid-based medicine and answered inquiries regarding the company’s products,” AusCann said in its June quarter report.
“Authorised prescriptions have been received and medicines delivered to patients throughout Australia under the special access scheme.
“The company is extending its medical outreach program to address requests for education and information from healthcare professionals, to support appropriate access for eligible patients to high-quality cannabinoid-based medicines.”
AusCann completed dosing of volunteers during the quarter as part of its first clinical evaluation.
It said sampling and blood analysis were complete and review and reporting were under way.
“The study will provide key exposure information to inform dose selection and to assist in prescribing AusCann’s unique hard shell capsules,” it said.
“The combination of an individual and consistent dose unit provides both doctor and patient with greater control over their treatment regime.”
The company recently announced Nick Woolf as its new chief executive.
He replaced Ido Kanyon, who left after a 17-month period.
The company said Mr Woolf had 25 years’ experience in the investment banking and life sciences industries in Australia and overseas.
“We are very fortunate to have been able to secure Nick for the role,” chairman Max Johnston said.
“He brings with him a proven track record of driving commercial success and has extensive cross-functional expertise in finance, operations and business development within life sciences as well as investment markets and M&A (mergers and acquisitions).”
The company had a $19.2 million cash balance and no debt on June 30.
It said that supported continued progress of its growth strategy.