Next Investors logo grey

MMJ finds support for Australia push

Published 20-APR-2016 13:16 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

MMJ PhytoTech (ASX:MMJ) has taken the next step towards being an established medical cannabis player in Australia, clinching two partnerships to help facilitate the move – focused on lobbying and setting up a retail network.

MMJ told its shareholders in a note this morning that it had signed two letters of intent, with Fresh Therapeutics Compounding Pharmacy and Epilepsy Action Australia respectively.

The former will be aimed at developing a model to import and sell MMJ’s existing products, which are legal under the current regulatory environment.

The deal will initially centre around MMJ’s Gelpell gastro-resistant microgel cannabidiol oral capsules.

Developed as a dietary supplement initially for the European market, phase one trials indicated that there was higher bioavailability of the drug’s active ingredients against an oral spray developed by GW Pharmaceuticals.

MMJ said the deal, should it come to full fruition, would generate immediate cashflow within the current regulatory framework while setting up a sales network should legislation change around MMJ’s other medicinal cannabis products.

Elsewhere, it will have a partner on the lobbying front – with it signing a letter of intent with Epilepsy Action Australia.

While MMJ said it would continue to lobby on its own, it would work with the body to advance the availability, access, and acceptance of medicinal cannabis in Australia through research, advocacy, and education.

Epilepsy Action Australia CEO Carol Ireland said MMJ and the body had identical goals – mainly increasing the availability of effective treatment options for those suffering from epilepsy.

“Given the enormous potential of medicinal cannabis treatment options for people with epilepsy, we are delighted to partner with a company as progressive as MMJ,” she said.

“Their pioneering work in alternative delivery systems of medical cannabis is a logical fit for us and we are looking forward to collaborating and progress the development of effective treatments in a space where they are currently so limited.”

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.