To improve the treatment of everything from anxiety to multiple sclerosis, medical cannabis is already used. MGC Pharma says there are more cannabis-focused medical discoveries with which the medical research is set to receive a big lift.
Today the biopharma (ASX: MXC) announced it is partnering with two top universities The Hebrew University of Jerusalem and The Royal Melbourne Institute of Technology (RMIT) to launch an international research hub called CannaHub.
On the development of new medical cannabis-based treatments, CannaHub will focus exclusively, serving as a shared international library of data, research and analytics on cannabis and its medical applications.
Set to launch in Q1 2019, the hub supporting the company’s ‘seed to pharma’ business model will also serve as MGC’s primary R&D engine and cover projects across the cannabis value chain. Resulting from the hub, findings will belong to each of the three founding partners and what could potentially deliver commercial outcomes, MGC will have the first right of ownership on intellectual property.
Managing director and Co-founder Roby Zomer says initial hub projects will focus on cancer treatments the effectiveness of medicinal cannabis and traditional combination treatments and innovative drug delivery systems and devices.
To advance world-leading research, CannaHub is designed and push forward innovation within the medicinal cannabis pharmaceutical market. The company says it looks forward to delivering groundbreaking results in the future for all CannaHub stakeholders and the medicinal cannabis industry and working with the teams at RMIT and HUJ.
To form a research institute, it marks the first time that either RMIT or HUJ has partnered with a private enterprise as CannaHub is unique. To share intellectual and material resources, it aims to provide a platform for all global universities and industries, to develop innovative cannabis-based products.
Ron Lipksy, MGC’s VP of business development said in demonstrating the medical applications for cannabis and supporting doctor training, recognized early on that a strong commitment to research was critical.
In collaboration with the academic sphere to achieve the legitimacy required to gain significant traction, innovation needs to happen among doctors and medical schools.
In getting the data, if a company skips these crucial steps, it will end up with doctors who don’t know how to properly prescribe the products and claims it can’t verify.
The hub will serve as a valuable resource for the medical cannabis industry, says RMIT associate professor Nitin Mantri. Supporting the use of medicinal cannabis for no singular location exists to bring all this information together and the use of medicinal cannabis for the treatment of a wide range of ailments, there is a growing body of evidence supporting the use of medicinal cannabis.
The company hopes that this project will provide support and funding to drive the development, researchers and practitioners a valuable source of information, and growth of the medical cannabis industry.
To join CannaHub with the opportunity to participate in ground-breaking medicinal cannabis research projects, other leading research departments and universities will be invited and the potential to access established royalty payments research, infrastructures and funding.