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LGP to enter psychedelics market

Cannabis producer Little Green Pharma has been granted a Schedule 9 licence by the Western Australian Department of Health to supply the psychedelic psilocybin to treat mental illness. LGB has established a special purpose subsidiary for psychedelic business which is planning to manufacture psilocybin in WA and conduct clinical trials. Any sale of psilocybin under the Medcicines and Poisons Act would be to treat in combination with psychotherapy conditions such as depression, PTSD and anxiety. Psilocybin is derived from cultivated mushrooms, with LGP seeking approvals for its WA facility (pictured) to manufacture the drug. Little Green Pharma has manufactured Australian medical grade cannabis products since August 2018.

GEV to share in green hydrogen grants

Marine transport solutions provider Global Energy Ventures is to receive $300,000 in grant funding under the Western Australian government’s just-announced renewable hydrogen fund round 2. GEV and its HyEnergy Project partners is one of three applicants chosen. HyEnergy, a project by Province Resources and partner Total Eren, aims to develop a green hydrogen project in the Gascoyne Region of WA. The project and GEV have signed a memorandum of understanding to support its feasibility study into a proposed marine export chain utilising a GEV-designed Compressed Hydrogen (C-H2) ship. GEV has American Bureau of Shipping Approval in Principle for such a vessel with a hydrogen storage capacity of 2,000 tonnes.

Orthocell receives patent protection in Canada and Hong Kong

Tissue regeneration technology developer Orthocell has had patents granted protecting its CelGro product for suture-less repair of soft tissue defects, adding to patents in Australia, Japan, New Zealand and China. The patents cover the use of CelGro collagen structure devices to repair tissues such as tendons, ligaments and nerves without the use of sutures. Orthocell is pursuing US Food and Drug Administration regulatory approval in the United States.

Wellnex Life reports surge in sales

Health and wellness products manufacturer Wellnex Life has reported a surge in sales in July and August to $2.8 million, a 49 per cent rise compared to the prior corresponding period. The surge comes from existing product lines and does not reflect purchase orders of $1 million for its new Wagner Liquigesic soft gel capsules from Chemist Warehouse, and for its Wakey Wakey and The Iron Company products. The surge prompted the company to update sales expectations for FY22 to exceed $22 million. Wellnex recently purchased Brand Solutions and has a wide stable of brands on sale in pharmacies and grocery stores.

JAT immunity support trials funded

China-focused dairy and healthy products specialist Jatcorp is to receive Entrepreneurs Programme assistance from the federal industry department to support the commercialisation of two supplementary food formulas that show the ability to neutralise the SARS-CoV-2 infection in certain circumstances. The formulas, Jinvigorate Platinum and Moroka Platinum were studied in a University of Sydney project. JAT has invested $500,000 to develop immunity support formulas, with the next step to conduct clinical trials which will be conducted by RMIT. The trials will test whether the formulas promote improved immune function in healthy adults.

AnteoTech signs Turkish distributor

Surface chemical company AnteoTech has signed an agreement with Pera Medikal for the distribution of its EuGeni reader platform and SARS-CoV-2 antigen rapid diagnostic test in Turkey. Pera is a leading Turkish importer and distributor of medical diagnostic products. The initial agreement is for the SARS rapid test and reader. However the companies plan to extend their agreement to cover other AnteoTech tests. The two companies have been discussing distribution of a test for Sepsis. AnteoTech manufactures test strips at a facility in Brisbane.

Picture: Little Green Pharma

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