The first kava company to list on any global stock exchange, Fiji Kava (ASX: FIJ) listed on the Australian Securities Exchange at the end of December 2018.
Fiji Kava listed on the ASX, raising a total of $5.2 million from institutional and retail shareholders. Leading the raise was PAC Partners, supported by Cicero Advisory and Kontiki Capital.
The raise was oversubscribed with strong support from investors including the Strategic Global Funds and the Company’s Fijian distribution partner, Jacks of Fiji.
Investors were excited for the listing of Fiji Kava, as they recognise the huge opportunity for an alternative to the use of benzodiazepines, as well as a viable alternative to medical marijuana.
Investors are also interested in Fiji Kava’s clinical research plans for products that are tailored to address specific problems.
“The team is focused on our Australian launch, research and development and the commencement of human clinical trials,” said Zane Yoshida, CEO of Fiji Kava.
“We’re looking to develop a portfolio of products which address a variety of medical ailments and build long-term value for our shareholders.”
Fiji Kava is the first foreign company to be granted permission to operate in the kava industry in Australia and already offers a suite of TGA and FDA-compliant medical kava products available for sale in Fiji.
One of the uses of the funds following the capital raise is to drive research and clinical trials using kavalactones to target specific medical conditions. Kavalactones are the active ingredient in kava, that are extracted from Fiji Kava’s select noble kava cultivars (varieties).
Fiji Kava’s products are supported by extensive research conducted with the Australian Centre for International Agricultural Research, the University of the South Pacific and the University of Melbourne.
To test the efficacy of different kava cultivars in treating different medical conditions, Fiji Kava will conduct human clinical trials in Sydney in conjunction with the National Institute of Complementary Medicine (NICM).
“Clinical trials will test which cultivars best target insomnia, muscle recovery and cardiovascular disease. We will also be exploring medical cannabis and kava combinations, targeting a variety of indications our research team has identified,” Mr Yoshida said.
Preparations are underway for the launch of Fiji Kava branded products in Australia in early 2019, which will enable Aussies to access a natural alternative to anxiety and sleep medication.
This content is produced by Star Investing in commercial partnership with Fiji Kava. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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