Ananda Developments Plc (AQSE:ANA)’s MRX1 cannabidiol-based medical oil is on track for commercial launch this July, according to the Aquis-listed medicinal cannabis provider’s latest operational update.
MRX1 will be accessible for prescription by specialists from that same month.
Ananda has received approval from external legal counsel for the information packs designed for MRX1 prescribers, and is concurrently working on the launch of the MRX1 website, to be operational within the next four weeks.
In further operational highlights, Ananda’s cultivation trials for medical cannabis flower have entered their second season and are surpassing expectations.
The cultivation facility, based in the UK and licensed by the Home Office, is currently growing three strains: Sage, Apocalypse and Charlotte's Web.
These strains were selected based on an analysis of the 2022 field season crop and cater to the demand for balanced and high-CBD cultivars in the UK market.
Ananda believes that focusing on these specific strains will enable the group to deliver high-quality and efficacious products, which are in high demand.
Furthermore, Ananda's DJT Genetic Stabilisation programme, aimed at stabilising strains, is progressing rapidly, having generated a large number of seeds.
The time required for seed production has significantly decreased, from an average of 95 days to an average of 35 days, while the number of seeds per plant has increased from 1-10 to approximately 300 seeds per plant.
As a result of this progress, the company has commenced early-stage discussions with third parties who are interested in moving their cultivation strategy from clones to seeds.
Ananda's CEO, Melissa Sturgess, commented: "The NHS spends £5 billion each year attempting to treat complex, chronic inflammatory pain conditions. If we can solve even a small portion of that problem with our patent pending cannabidiol-based medicines, we will be doing very good work for both patients and our shareholders. I am optimistic on both fronts."