AusCann and Murdoch Uni sign medical cannabis research alliance

Medicinal cannabis group AusCann yesterday announced a five-year research alliance with Murdoch University, intended to lead to the development of projects in the field of medicinal cannabis. The strategic alliance will enable research in the cultivation and development of medicinal cannabis strains for the effective treatment of various medical conditions, and which are also suited to Australian growing conditions.

“We are particularly proud to have Murdoch University as a partner, given their research into plant breeding is truly world renowned,” said AusCann Managing Director Elaine Darby. Darby made special mention of Murdoch Professor Michael Jones, an internationally recognised expert in agricultural biotechnology, who will help build up the knowledge base in developing improved medicinal cannabis lines.

Professor Jones is the foundation director of the WA State Agricultural Biotechnology Centre and is also a co-founder and chief scientific officer of trait development company NemGenix. He has been involved in the development of molecular diagnostic tests for the grains industry, pioneering the use of marker-assisted selection for wheat and barley in Western Australia and, more recently, developing gene silencing technology to control crop pests.

“Having such experienced research partners involved in the formation of a new medicinal cannabis industry is a key step for us,” said Darby.

Under the current agreement, AusCann will solely own and exploit any intellectual property developed from the research. Murdoch University will not receive any profits from the outcome of the research activities.

The news comes two weeks after AusCann entered into a partnership agreement with Canada’s Canopy Growth Corporation, the largest legal cannabis producer in the world. The partnership will see Canopy Growth offer its expertise to AusCann in a number of areas, including production, quality assurance and operations, in exchange for an initial 15% ownership stake in the company as well as further options.

AusCann also recently announced that former politician the Hon Cheryl Edwardes has joined its board. The appointment comes as a marked change in career for Edwardes, who retired from politics in 2005 after spending over 15 years as a senior frontbencher. During this time, she served as Attorney-General, Family and Services Minister and Environment Minister.

“Cheryl is a proven leader and is tremendously knowledgeable across a wide range of areas of public policy,” said AusCann Managing Director Elaine Darby. “Her input will be vital as we progress to becoming an ASX-listed company.”

AusCann is currently in the process of being acquired by TW Holdings (ASX:TWH), whose shares were trading 7.69% higher at $0.014 as of 11 am on Wednesday.