Medicinal cannabis imported into Australia

The Australian partner of pharmaceutical company Creso Pharma, Health House International, has successfully imported its first medicinal cannabis products into Australia, having received a federal import licence from the Australian Government earlier this year.

The import included a range of three cannabis oils for human health from Canadian medical cannabis group CanniMed. Health House will distribute the CanniMed products across Australia in authorised pharmacies for a variety of conditions, as approved by prescribing physicians, in compliance with federal and state legislation.

“The Australian medicinal cannabis market is an important market for Creso and this agreement positions us strategically to facilitate and help meet the immediate but unmet need thus far of timely access to medicinal cannabis locally,” said Creso Pharma Group Chairman Boaz Wachtel.

“Medicinal cannabis has been shown in a number of countries around the world to be alleviating a variety of medical conditions. CanniMed’s first-rate supplies into Australia will help patients enormously, especially those in acute pain and for various chronic conditions.”

The news comes one day after another significant development in the medicinal cannabis market, with healthcare technology company Lifespot Health signing an MoU with Seng Vital Germany to form a joint venture company and integrate the Seng Vital CANNAMED vaporiser into Lifespot Health’s BodyTel platform.

“Of the two well-known methods of cannabis consumption by inhalation, the vaporiser delivery method is deemed to have fewer health concerns than the traditional combustion process or smoking,” noted Lifespot Health CEO Stefan Schraps. “Vaporising also provides the means for controlled delivery of cannabis to the user.”

BodyTel will monitor not only the consumption of cannabis both in dosage and time of use but also provide additional clinical security via feedback in the form of a fingerprint scanner to determine the identity of the user. The BodyTel system will analyse and present information to the carers, be they clinicians, support services or family members, via the iOS, Android or web portal formats.

Lifespot Health will receive 50% of the newly formed Seng Vital Australia and provide services in the final development of the CANNAMED device. When Seng Vital Australia moves to full production and market entry, Lifespot Health will receive ongoing revenue via subscription services through its SaaS model. The developed IP around user compliance will also be licensed to Lifespot for global use in other products.

Image credit: ©William Casey/Dollar Photo Club