As the medical cannabis industry continues to gain pace, and awareness of medical cannabis treatments rises, it is crucial that patients, prescribers and practitioners have access to resources and information to inform them about the medications they are using or seeking to use.
MGC Pharmaceuticals (ASX:MXC) is a strong advocate of this, and has in place a number of partnerships and initiatives to increase access to education in Australia and improve the research of medical cannabis.
It has partnered with renowned medical cannabis research universities, the Royal Melbourne Institute of Technology (RMIT) and The Hebrew University of Jerusalem (HUJ), to create an international research hub named CannaHub.
The hub will bring together existing and new projects in medical cannabis and will host a library of research, data and analytics on medicinal cannabis.
MGC Pharmaceuticals Chief Executive Officer Roby Zomer said: “We hope that this hub will drive the research and development of new innovative medical cannabis treatments and technologies.”
The hub will support all projects in the medical cannabis value chain, from clinical trials to cultivation of particular cannabis strains, and MGC will have an ownership stake in any intellectual property resulting from the hub.
Associate Professor at RMIT University Nitin Mantri said: “There is a growing body of evidence supporting the use of medicinal cannabis for the treatment of a wide range of ailments, and no singular location exists to bring all this information together.
“We hope that this project will provide researchers and practitioners a valuable source of information, support and funding to drive the development and growth of the medical cannabis industry.”
MGC has also partnered with Epilepsy Action Australia to design and build an online education platform for medical cannabis and epilepsy.
The platform will give healthcare professionals and epilepsy patients access to the latest information and educational resources on medical cannabis and epilepsy, and help patients access medical cannabis treatments and clinical trials.
Carol Ireland, Chief Executive Officer and Managing Director of Epilepsy Action Australia said:“Epilepsy patients are always looking for reliable and trusted information and new research, and we have noticed an influx of patients seeking information on medical cannabis.
“Partnering with MGC and launching the platform will allow us to provide patients with a portal to access all the information they need to help them better understand what options and alternatives are available to them.”
Mr Zomer also believes that without proper education and increasing the skill set in Australia, the industry could find itself in a skills deficit in the future, with skills lagging behind the demand and growth of the market.
Given that the medical cannabis market in Australia is still in its infancy, there is a significant amount of growth to be had before the market is seen as mature.
Take Canada as a comparison, where medical cannabis was legalised in 2001 and the growth in the region continues. The recent legalisation of recreational cannabis in Canada is also a strong driver of this growth.
The Canadian market is viewed by many as an expert on medical cannabis, and Australia is leveraging expertise from more mature markets, that also include Israel, to establish its skill set.
“In order to ensure Australia’s growth keeps pace, commitment to education initiatives will be key, and this begins with access to information,” Mr Zomer said.
This content is produced by Star Investing in commercial partnership with MGC Pharmaceuticals. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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