Creso Pharma, a developer of medicinal cannabis therapies, is the latest cannabis company to list on Australia’s ASX, according to an SBS report. The company joins MMJ Phytotech, Medlab Clinical, and MGC Pharmaceuticals as cannabis companies listed on the exchange.
Boaz Wachtel, Creso co-founder and chairman, said that while the medical marijuana industry is “booming” there remains a “notable unmet need” for pharmaceutical-grade cannabis and hemp-based nutraceutical products.
The company develops cannabis-based therapies for both humans and animals. Dr. Miri Halperin Wernli, Creso chief executive, said pets suffering from behavioral disorders, pain, inflammation and seizures could likely benefit from cannabis therapies.
“Just as medical cannabis can be used to treat a range of ailments in humans, a growing body of empirical evidence from animal studies as well as extensive in vitro research actually indicates that various animals could also benefit from therapies derived from the cannabis and hemp plants,” she said in the report.
Following the listing, company shares gained 4 cents to 24 cents.
A former wine investment company, TW Holdings Limited, is also planning on hosting a backdoor listing of AusCann. The move will allow AusCann to be listed on the exchange without becoming a public company or engaging in an initial public offering.
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