Yesterday marked the launch of what has been called Australia’s first medical cannabis industry peak body.
Medical Cannabis Council Inc; which was registered with ASIC last month, aims to unite the supply chain and create a unified voice for Australia’s nascent cannabis sector.
The nation already has 12 companies listed on the ASX, and a number of others going it alone. Western Australia seems to be turning into a hub for related activity, with around half of Australia’s ASX-listed companied headquartered there.
The not-for-profit body was established through the efforts of BuddingTech, which describes itself as an accelerator for the industry.
“We identify industry beneficial projects and invest resources into developing these concepts for the Australian medical cannabis pharmaceutical industry,” says the company’s web site.
If the name sounds familiar, that may due to BuddingTech’s involvement with MGC Pharmaceuticals and the University of Sydney Business School’s white papers on medical cannabis published last year.
Adam Miller, founder of BuddingTech, says medical cannabis is still a very complicated area for companies and patients alike in Australia.
“The aim of the council is to remove any confusion still surrounding the legal framework and accessibility of medical cannabis so the most at-need patients can understand their rights and the availability of the products,” stated Mr. Miller in an interview with SBS.
The Medical Cannabis Council launch coincides with the United In Compassion Australian Medicinal Cannabis Symposium 2017, a major international event in Melbourne that will run over three days.
The issue of medical cannabis again hit the headlines in Australia recently with the conviction of a father of a young girl with a severe form of epilepsy who uses cannabis oil to treat manage her condition. The man, Michael Lambert, is the son of Australian philanthropists Barry and Joy Lambert, who have campaigned on the issue for years and have also been very generous in supporting research.
In December last year, we reported the Lamberts donated USD $3M to the USA’s Thomas Jefferson University, to support its Center for Medical Cannabis Education and Research.
In January 2016, in what was the largest donation Sydney University has ever received, the Lamberts donated a $33.7 million gift to fund the Lambert Initiative.