Aurora Cannabis Inc. has announced the grant of three permits by the Australian Government, Department of Health for the import of cannabis for research purposes. The permits were granted by the Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland, this allows PACE to import cannabis for research purposes. Aurora, in turn has also received approval from Canada for exporting cannabis to PACE.
Aurora will ship cannabis to PACE where it will be used by PreveCeutical for a novel nose-to-brain drug delivery system study. Led by the Chief Research Officer of PreveCeutical, Dr. Harendra Parekh, this research will be conducted in collaboration with UniQuest Pty Inc. for a soluble gel named ‘Sol-gel’. The permit enables the company to test a set of selected cannabis strains to develop and commercialize cannabinoid-based Sol-gel.
PreveCeutical aims at developing a novel drug delivery system that increases the bioavailability of drugs to relieve a wide array of symptoms like inflammation, pain, seizures, epilepsy, neurological disorders and so on. Sol-gels may prove to be more efficacious in terms of its longer therapeutic effects, reduced dosage, irritation and other unwanted side-effects.
Besides receiving permits for import of cannabis, Aurora has also received certain rights with options to either license the technology in Canada and Australia on a non-exclusive basis or, to opt for royalties on product sales coupled with the purchase of shares in PreveCeutical. The company is looking at this development as an entry to gain access to more markets with specific higher valued therapeutic fields.