The Cann Group (ASX:CAN) see the first commercial-scale resin extraction for Australia

Company News

by Rachael Jones

The Cann Group (ASX:CAN) and IDT Australia (ASX:IDT) have jointly announced that GMP extraction activities are underway for the first batches of medicinal cannabis resin.

This represents the first commercial-scale resin extraction from Australian grown cultivars.

The extracted resin will be used as an Active Pharmaceutical Ingredient (API) in formulation and packaging activities at IDT to produce GMP medicinal cannabis oil products.

These products will be formulated and packed by IDT and made available via the Special Access Scheme (SAS) to Australian prescribers and patients, and will be positioned for export to markets overseas.

Shares in the Cann Group (ASX:CAN) are trading 16.1 per cent higher at $1.16.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.