Advancing Cannabinoid Research in Australia
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Canntab Therapeutics Ltd. and its Canntab XR cannabinoid tablets offer pharmaceutical-grade formulation to help doctors and patients control their dosing, as well as help researchers better study the drug in clinical trials. The company is pioneering this work in a new Australian joint venture that investors may want to note when looking for investment opportunities in the medical space.
Many countries are starting to recognize the medical benefits of cannabis. In Australia, Ireland, Germany, and the Philippines, major legislation and fast tracking policies have been introduced that could open up the market. The problem is that the industry has struggled to introduce products that the Australian medical industry or other governments can approve or endorse since they’re not formulated or studied like typical pharmaceutical drugs.
Australia has one of the highest cannabis prevalence rates in the world with about one-third of citizens over the age of 22 having tried the drug. While prohibition has been in place for several decades, much like the rest of the developed world, the government has long avoided the punitive drug policies enacted by the United States and its Asian neighbors. Legislation has also been recently introduced that supports the cannabis movement.
On February 24, 2016, the country legalized medical cannabis at the federal level, which put it closer to Canada in terms of being a pioneer in the space. The Office of Drug Control in the Federal Department of Health issued its very first cannabis research license about a year later under the medicinal cannabis provisions of the Narcotics Drugs Act of 1967. The move paves the way to make the country a key researcher of cannabinoid-based drugs.
The country also became the fourth country in the world to allow the export of cannabis-based therapies in January of 2018. The move allows the country to produce oils, lozenges, sprays, and pills that can be sold overseas into lucrative Asian and European markets. Some of the most promising end markets include South America, Spain, Canada, and Germany. This could make the country one of the largest cannabis exporters in the world.
Canntab Therapeutics’ proprietary Canntab XR extended release tablets make it easier for physicians and patients to manage dosage and ensure a consistent experience. In addition, the tablets are easier to administer in any environment, eliminate the social stigma of cannabis, and do not have the adverse side effects associated with inhaled cannabis. The extended release nature of the product also enables patients to experience a relief over a long period of time.
In dissolution studies, the tablets demonstrated a 12 to 18 hour duration of action from a single dose. These time periods cannot be achieved using other delivery mechanisms, such as inhalation (smoking or vaping) or edibles. The tablets are available in many different unique formulations that target various medical conditions with 2.5mg, 5mg, and 10mg doses, enabling patients to effectively titrate with full knowledge and awareness of their intake.
The tablets are ideal for youth and elderly patients given their ease of portability and storage compared to other forms of medical cannabis. In addition, they are designed to specifically regulate the percentages of cannabinoids and terpenes depending on the needs of the patient. For example, patients that require high CBD concentrations or chemotherapy appetite restoration patients that require high THC will have consistent options.