SINGAPORE (Dec 5): iX Biopharma has been awarded a cannabis manufacture license from the Australian Office of Drug Control to manufacture and supply extracts and tinctures of cannabis and cannabis resins.
The specialty pharmaceutical company’s wholly-owned subsidiary, iX Syrinx, operates a TGA cGMP certified facility, and holds import and export licences for cannabis and state poisons licences.
Together with the newly granted cannabis manufacture licence, the group is now able to fully participate in the global medicinal cannabis business.
iX Biopharma will now also be able to manufacture and distribute its newly formulated Xativa sublingual cannabis wafers in Australia through the Australian Special Access Scheme and in overseas markets.
Xativa leverages on iX Biopharma’s patented WaferiX technology to improve the speed and level of absorption and predictability of effect of medicinal cannabis.
In a filing on Thursday, iX Biopharma says the award of the license marks “a significant milestone” for the group.
“Globally, the use of cannabis for the treatment of a wide range of medical conditions has been growing at an exponential pace,” says Eva Tan, director of Corporate and Commercial Strategy at iX Biopharma.
“The grant of the cannabis manufacturing licence has come at a most opportune time, allowing us to manufacture, distribute and promote Xativa as the gold standard in medicinal cannabis delivery, thereby charting a new growth trajectory for the Group,” she adds.
Shares in iX Biopharma closed 0.7 cents higher, or up 3.7%, at 19.7 cents on Thursday, before the announcement.
