The licenses being pursued will allow Impression, subject to individual product permit issue, the capacity to capitalise on local and international opportunities
Commencement of Medicinal Cannabis Product Licensing Applications
The Board of Impression Healthcare Limited (“Impression” or the “Company”) is pleased to announce that it has commenced the application process to obtain licences from the State Department of Health, Victoria and the Federal Office of Drug Control (“ODC”) for the importation, storage, distribution and export of medicinal cannabis products. The application process follows Impression’s announcement on the 23rd of September 2018 in relation to a collaboration with leading cannabinoid therapeutics company, AXIM Biotechnologies Inc (“AXIM”).
For more information on the collaboration with AXIM, please see the following ASX announcement previously released by the Company: https://www.asx.com.au/asxpdf/20180919/pdf/43yfycrg879kk8.pdf
The licenses being pursued will allow Impression, subject to individual product permit issue, the capacity to capitalise on local and international opportunities by importing and exporting a wide range of therapeutic cannabis products to generate cash flow. It is intended that imported products be saleable under the Special Access Schemes and Authorised Prescriber Network, as regulated under the Therapeutic Goods Administration. The procurement of an export license is consistent with the Company’s strategy of progressive and selective international expansion, with sales of the Company’s existing product, the Knight Guard, having commenced in New Zealand. The application process is being completed in conjunction with the Company’s cannabis consultants. And, Impression expects to have the license and additional security protocols in place at its Melbourne-based laboratory and manufacturing facility by the first quarter of 2019.