CSIRO is to develop new medicinal cannabis products to help people with a variety of conditions including multiple sclerosis and chronic pain.
Under a new licence, CSIRO will partner with local manufacturers to drive the development of new cannabis therapeutics, a market projected to be worth US$44 billion by 2024.
CSIRO Scientist, Adjunct Professor Peter Duggan, said: “Around the world, researchers are exploring the potential for medicinal cannabis to help with conditions such as epilepsy and the nausea and vomiting associated with chemotherapy treatment, multiple sclerosis and chronic pain.
“We had been able to do early-stage work with cannabis, but the new licence will enable us to develop cannabis-derived cannabinoid medicines using innovative extraction, refinement and formulation techniques.”
CSIRO is the only independent research institute in Australia able to develop drug manufacturing protocols in the medicinal cannabis space.
In December the Therapeutic Goods Administration (TGA) approved over-the-counter pharmacy sales of a low dose form of cannabidiol (CBD), one of the key components of cannabis.
CEO of cannabis producer Cann Group Peter Crock “said: “With this independent license CSIRO will be able to play a key role in helping establish a vibrant industry in Australia.”
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