- CEO:Ido Kanyon
AusCann (ASX:AC8) is undoubtedly one of the most prominent competitors in the Australian medicinal cannabis market.
The company has already acquired the full set of licenses necessary to grow and manufacture cannabis-based medicines and is in the midst of purchasing a new research and development facility in Perth.
The cost of the R&D site will take a $5.25 million bite out of AusCann's $40 million in funding, and represents the latest step in a broader strategy shift. In September last year, the company announced that it would be moving away from the pot-growing sector, and instead pivot towards the development of cannabis-based medicinal products, particularly in capsule format.
The facility will focus on AusCann's cannabinoid pharmaceutical product pipeline, supporting the development of both innovative formulations and dose forms. To achieve this Auscann will be employing a vertically integrated strategy, beginning with cultivation and production, all the way through to the eventual manufacture and distribution of products.
- Address:Shenton House, Suite 8, Level 2 57 Shenton Avenue, Joondalup, WA 6027, Australia
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