MGC Pharmaceuticals Limited (ASX:MXC) has announced it has signed a landmark agreement with the Royal Melbourne Institute of Technology (RMIT) to collaborate on research initiatives.
As part of the Binding Memorandum of Understanding (MOU) the medicinal cannabis company and RMIT plan to establish a world first ‘International Library of Cannabis Medicine'.
The collaboration also involves the parties developing genetic and breeding programs that effectively treat specific diseases with medicinal cannabis.
They also plan to develop medical grade cannabis products for future clinical studies in Australia.
Shares in MGC Pharmaceuticals Limited (ASX:MXC) are trading steady at 6.2 cents.