Two Important Announcements 6th and 7th September.
#1 FIRST DANISH SHIPMENT TO AUSTRALIA, KEY APPOINTMENTS (6 Sept 2021)
Little Green Pharma have announced its first successful shipment of cannabis flower medicines to Australia from its recently acquired Danish Facility. The shipment contained around 50kg of LGP Flower THC 16 – Billy Buttons medicine, which has a THC content of 16% and is available in the Australian market in 15g packs. This shipment was able to be successful in just over 2 months following the acquisition of the new facility.
Little Green Pharma's Billy Buttons THC 16 is available for sale through all pharmacies in Australia, and the company anticipates a further two shipments of cannabis flower medicines from the same Danish facility to arrive by the end of October. The increase in demand for this type of product is evident as doctors becomes more comfortable with prescribing such a product, as well as its method of administration. The rapid onset of therapeutic benefit that cannabis flower can provide is why it is frequently prescribed to patients.
This is a great step for the company and shows that it can meet demand, having the facilities to ramp up production where needed. They are experiencing some serious tailwinds as the advantages of medicinal cannabis becomes more widely accepted. The growth potential for this company as a first mover in Australia is significant and they have already established themselves with facilities and quality product, as well as strong alliances with the pharmaceutical regulatory bodies across the world.
Highlights:
LGP has successfully imported its first shipment of ~50 kilograms of “Billy Buttons” THC 16 cannabis flower medicine from its recently-acquired Danish Facility into Australia – in just over 2 months since acquisition
Billy Buttons THC 16 has a tetrahydrocannabinol (THC) content of 16% and is available for sale in Australia in 15g packs
LGP expects to import two further flower shipments of cannabis flower medicines from its Danish facility by end October 2021
These shipments are expected to help meet the growing demand in Australian for cannabis flower medicines
LGP has also appointed Morten Snede, former Managing Director of LGP’s Danish Facility, as CFO and Tony Roberts, former Managing Director of Tasmanian Botanics, as its General Manager (EU).
#2 LITTLE GREEN PHARMA EXPANDS INTO PSYCHEDELIC MEDICINES (7 Sept 2021)
Little Green Pharma has announced today that it has been granted a Schedule 9 licence from the WA Department of Health to supply psilocybin. This licence will grant LGP the right to supply psilocybin to eligible licence holders under the Medicines and Poisons Act 2014 (WA). Psilocybin is currently the subject of extensive global research for the treatment of mental illness when used in conjunction with psychotherapy. It is being studied for its application in conditions like depression, PTSD and anxiety.
When it comes to these Schedule 9 substances, being granted a licence is a major hurdle that needs to be cleared before you can even enter the field. LGP has quite an extensive history in producing and creating an effective supply chain for Schedule 9 drugs through its very successful cannabis operations. It will use its existing infrastructure in Western Australia to cultivate medicinal grade psilocybin mushrooms that can be used in research trials.
The next steps that the company says they are working on are extending their Good Manufacturing Practices (GMP) licence to cover psilocybin, and planning to sponsor a ground-breaking Perth based clinical trial into psilocybin assisted psychotherapy. They have also had Dr Stephen Bright join their Clinical Advisory Board as its foundation member. In my opinion, they could not have a better person to advance their case for psilocybin as Dr Bright is a clinical psychologist and the co-founder and Vice President of PRISM (an entity dedicated to the advancement of psychedelic research). He is also a Senior Lecturer at Edith Cowan University and is one of Australia's most highly respected authorities on psychedelic medicine and its use in treating psychological disorders.
LGP Managing Director Fleta Solomon said: “The field of psychedelics is a logical fit with our long term stated goals of solving real patient problems and transforming their lives. We have developed so much experience over the years through the cannabis industry and we genuinely believe we can now bring that to bear on the development of the psychedelics field in Australia. The existing investment in our West Australian cannabis cultivation and manufacturing facility means we can meaningfully enter the field with minimal incremental capital spend.”
Highlights:
LGP granted Schedule 9 licence to supply psilocybin by WA Government Department of Health
Licence is a key element of LGP’s entry into the burgeoning international field of psychedelic drugs to treat mental illness
LGP has established a special purpose subsidiary to conduct LGP’s psychedelic business with Mr. Shaun Duffy employed as CEO
LGP progressing plans to manufacture psilocybin from its WA production facility
WA based ground-breaking psilocybin clinical trial planning well advanced
Dr Stephen Bright appointed as foundation member of Clinical Advisory Board
Really looking forward to the coming 18 – 24 months for LGP. They are advancing areas of research that I spent a lot of time looking at in both Biomedical Science and Psychology, and I believe they are at the forefront of the next wave in psychiatric medicine and treatment.
Full announcement from the 6th of September.
Full announcement from the 7th of September.
DISC: currently hold in RL and have a buy order in on SM.