Medigrowth to open medical cannabis production hub in Geelong
Geelong is set to become a medical cannabis manufacturing hub, with new plans for a major centre revealed. SEE THE IMAGES
Geelong
Don't miss out on the headlines from Geelong. Followed categories will be added to My News.
A new medical cannabis hub will be established in Geelong, with a start-up partnering with Deakin University to manufacture cannabis, develop genetics and conduct research.
Melbourne company Medigrowth this week revealed it received planning permission to build a Centre of Excellence.
The exact location of the proposed hub has not yet been revealed.
Chief executive officer and co-founder Adam Guskich said the new hub could lead Australia to become a “major player” in the medical cannabis industry.
He said the country was currently “overwhelmingly reliant on overseas imports” and the hub could lead to export, training and research opportunities and make medical cannabis more affordable.
“About 78 per cent of our products are manufactured overseas, which raises costs for Australian patients and forces them to choose between their medicine and their budget,” Mr Guskich said.
“There is an opportunity for us to not only distribute Australian-made products to local patients, but to further develop our clinical work to extend our reach overseas.
“Smart companies will see the value of pursuing clinical trials and following the traditional pharmaceutical pathways towards TGA approvals and registered medicines.
“Ultimately this will help patients and differentiate Medigrowth with unique offerings.”
The company currently distributes products, including THC, CBD and dry cannabis flowers, to customers around Australia.
Mr Guskich said the new centre would become Medigrowth’s hub for accelerating this type research, as well as undertaking new research projects.
He said the development would ensure the company’s operations were “future-proofed”, by creating manufacturing capabilities within Australia for pharmaceutical grade medicinal cannabis products.
The centre would also including purpose-designed manufacturing, research, design and lab facilities to cater for genetic research product development aligned with clinic trials, he said.
Mr Guskich said Medigrowth’s current clinical interests included advanced cancer care, mental health and autism spectrum disorder.
Mr Guskich said while the development was yet to go through a formal tender process, the company investment would be “significant”.
He said the development would also lead to “important regional economic development opportunities and highlight the region as a leader in medical manufacture and med-tech development”.
A timeline for the project has not yet been revealed.
More Coverage
Originally published as Medigrowth to open medical cannabis production hub in Geelong
The show must go on – and it’s ‘very, very busy’
After being forced to close early on Friday, Geelong Show organisers say it’s “very, very busy” on Saturday – and for those attending, don’t forget to bring your boots!
‘Violated’: Victims of upskirting personal trainer speak
A victim of a personal trainer found guilty of sexual assault and upskirting has told a court she felt stripped of her dignity and self-worth by his actions.