Medicinal cannabis changes good for local industry and for patients, says Zeacann.
Auckland-based medicinal cannabis producer and distributor Zeacann Ltd has welcomed changes made to the Government's medicinal cannabis legislation.
Health Minister David Clark has returned the Misuse of Drugs (Medicinal Cannabis) Amendment Bill for the second reading in Parliament. Changes to be made by Supplementary Order Paper include:
Allowing local cannabis strains to be registered and used to develop products
Ensuring the scheme is up and running within 12 months of the law taking effect
Extending the temporary statutory defence to include patients undergoing palliative care
"These changes give us increased confidence New Zealand will have a world-leading medicinal cannabis scheme," says Chris Fowlie, Zeacann CEO and co-founder.
"Allowing local genetics puts us on an even playing field globally, with the opportunity to develop better products," says Mr Fowlie. "Innovative New Zealand producers will soon have a huge competitive advantage over Australian firms."
"Zeacann intends to research and identify any compounds of interest in our local strains, to develop products for local patients and export markets."
Zeacann is uniquely positioned with its research partnership with Auckland University of Technology (AUT) and Mr Fowlie's deep connections with local growers and breeders through his work as a court-recognised expert witness and organiser of eight local Cannabis Cup contests.
Zeacann and AUT have formed a research partnership to develop cannabis-based medicines, with several research projects in development.
As well as accessing local Kiwi strains, Zeacann is also negotiating rights for some of the world's best cannabis genetics, and expects to make further announcements soon.
Through PwC, Zeacann is currently seeking wholesale investors to support its plans to build high-tech hybrid greenhouses and manufacturing facilities, leveraging research performed in conjunction with AUT.