AusCann Group Holdings Ltd’s (ASX:AC8) strategic partner Canopy Growth Corporation has entered into a research collaboration to develop research and technical capabilities in the production of medical cannabis.
The collaboration with the Victorian State Government will see Canopy work to develop new and novel approaches to cannabis cultivation and manufacturing.
READ: Auscann Group’s shares surge following green light for medicinal cannabis export
AusCann reached a new high of $1.86 on 9 January 2018 and today were up to $1.82, an increase of 128% since the start of 2018.
Mark Zekulin, president of Canopy Growth, said: “We look forward to our work with the Victorian Government in the coming months and years.
“Along with our partnership with AusCann, we are excited to be working in Australia as it establishes itself as a leading cannabis jurisdiction.
“This work in Australia will be of benefit to Australian cannabis patients and our partner AusCann, given our proven ability to transport live genetics right across the world and our closer proximity.”
READ: AusCann Group Holdings advances medical cannabis supply chain strategy
The collaboration is aimed at creating a faster pathway towards commercial production of cannabinoid medicines for Australian patients.