THC Global Group Ltd (ASX:THC) has secured a mutually exclusive partnership with Malaysian agri-tech company Heleogenics Sdn Bhd.
This represents a significant first step in the company’s Asian markets strategy.
The partnership with Heleogenics is initially to liaise with the Malaysian government towards the legalisation of medicinal cannabis in Malaysia.
The two will then explore other nations within Asia and the Middle East where there may be opportunities for THC Global to enter the medicinal cannabis market.
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THC Global’s CEO Ken Charteris said: “Working with the Heleogenics team, who are leaders in the bio-tech and agri-tech sector within Asia brings a significant wealth of experience both within government liaison in addition to broadening the company’s research and development capabilities.
“In securing commercial partnerships with established businesses like Heleogenics within Asia, we are able to enter markets in an accelerated manner as soon as legislative changes are made, ensuring a first-to-market approach with significantly lower capital outlay than operating solely.”
Heleogenics is a valuable partner
Heleogenics is associated with Sengenics, a global medical bio-tech company primarily focussed on proteomics for medical diagnostics and the development of novel therapies.
Sengenics’s shareholders include SBI Holdings (SoftBank) and Insas Berhad.
The partnership will also encompass exploration of the significant agri-tech experience in plant genomics of Heleogenics, as well as THC’s expertise and IP in medicinal cannabis.
THC’s scope of activity in Asia includes developing patient access, doctor and patient engagement, off-take agreements and sales, R&D, and IP commercialisation.