Weed Week: Jamaican nettletree could be cheaper CBD source; cannabis driving test

Victoria is to launch a cannabis driving trial. Meanwhile, scientists have found a source of cannabidiol which doesn’t come with any THC. Read more in Weed Week.

Victoria is set to launch a medical cannabis driving trial for patients. Picture: Getty Images

Victoria is to launch a medicinal cannabis driving trial. Meanwhile, scientists have found a source of cannabidiol (CBD) which doesn’t come with any THC.

Let’s look into the Jamaican nettletree, which seems to have the potential to break the link between CBD and THC, the substance in Cannabis that causes people to get “high”.

Scientists in Brazil say they’ve discovered cannabidiol in the fruits and flowers of the Jamaican nettletree (Trema micranthum), a shrub native to tropical and subtropical regions of North and South America.

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The nettletree grows up to 10m tall and has egg-shaped leaves of up to 9cm long, which are usually covered underneath with a white, woolly pubescence.

Flowers are greenish-white, while the tree’s fruits are yellow to bright reddish-range, up to 4mm in diameter.

Unlike the common Cannabis sativa plant (marijuana) however, scientists say the Jamaican nettletree doesn’t contain THC. Which is either good or bad, depending on your point of view.

Scientists in brazil say the Jamaican nettletree can provide CBD. Source: Flickr.

Why is that important?

The plant could be an attractive new source of CBD that comes without the legal barriers associated with growing cannabis.

“It was wonderful to find a plant (with CBD but) without THC, because you avoid all the mess around psychotropic psychoactive substances,” molecular biologist, Rodrigo Moura Neto, told AFP.

“It would be an easier and cheaper source of cannabidiol,” he added.

Research on this plant goes on.

Victoria to test cannabis patients to drive

Meanwhile, Victoria is set to launch a medical cannabis driving trial for patients undergoing treatment.

Though it won’t take them on public roads.

Legislation has been introduced in state parliament to assess the effects of consumption of medical cannabis on driving behaviour.

Under the Bill, medicinal cannabis users would be able to get behind the wheel on closed roads (a closed circuit in a controlled driving environment), to see what impact the drug has on their driving ability.

“A medicinal cannabis patient should be treated like any other patient who is prescribed medicine by a doctor who also provides appropriate advice about when that patient is safe to drive,” said MP Rachel Payne.

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ASX weed stocks

Here’s a wrap of the past week’s news involving the ASX weed stocks have performed.

IDT AUSTRALIA (ASX:IDT)

IDT rose after saying it was well placed to benefit from the rapid growth in the medicinal cannabis and psychedelic markets, given that it has one of the select few facilities that comply with the recently introduced GMP (good manufacturing practices) regulations.

During the last quarter, IDT’s potential sales pipeline also continued to grow, with the company generating 75 potential sales leads and signing confidentiality agreements with 15 potential clients.

In the quarter, the company also submitted proposals worth an additional $11.3 million, and secured sales contracts worth $1.2 million.

EMYRIA (ASX:EMD)

MDMA specialist Emyria has secured an ethics endorsement for MDMA from its Authorised Prescriber (AP) application.

The National Health and Medical Research Council (NHMRC) ethics committee has endorsed Emyria in support of its AP applications for the lead psychiatrists of its future MDMA-assisted therapy program.

The approval is the first stage of a two-step evaluation, where final approval is still required from Australia’s Therapeutic Goods Administration (TGA) which is still in progress.

If secured, the approval may allow Emyria to become one of the first Australian companies to offer broader options for PTSD patients who have exhausted standard care options.

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VITURA HEALTH (ASX:VIT)

Vitura provided an update on its Cortexa Joint Venture with PharmAla Biotech on Tuesday.

For what will be an Australian first, Vitura said it had landed an MDMA bulk GMP active pharmaceutical ingredient (API) in Australia, which was being prepared to be batch manufactured into finished dosage forms to GMP standards.

In doing so, Cortexa will ensure reliable local supply to meet growing clinical and research demands.

Concurrently, the first GMP MDMA capsules have been imported from Cortexa’s joint venture partner, PharmAla Biotech, and are ready for patient prescriptions and clinical trials.

Most of this shipment is to satisfy demand under existing supply agreements including leading University clinical trials.

Psilocybin bulk GMP API is also in the process of being transported to Australia. As with MDMA, there has been significant interest in the clinical and research prescription of psilocybin.

CANN GROUP (ASX:CAN)

During the last quarter to September, Cann’s unaudited year to date sales revenue was $4.03 million, representing two times the sales revenue of the pcp.

Cash receipts from operating activities was $4.54 million during the quarter, up 87 per cent on the pcp.

In July 2023, Cann said its harvest of crops, which were being continuously planted at a scale twice that of previous crops, had commenced.

Crop area harvested from mid-July equates to an annualised production level of eight tonnes.

This content first appeared on stockhead.com.au

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Originally published as Weed Week: Jamaican nettletree could be cheaper CBD source; cannabis driving test