UK Clinic Opens as ECH looks to IPO
The first dedicated Medical Cannabis clinic has opened in the UK. Based in Machester the clinic is reportedly expecting to charge patients £200 for a consultation and then between £600 and £700 for a month’s supply of medical cannabis. Dr David McDowell, independent pain specialist will head up the clinic along with Professor Mike Barnes.
The parent company, European Cannabis Holdings, which set up The Medical Cannabis Clinic, has been much reported on, having helped facilitate the first bulk shipment of medical cannabis into the UK. More recently its CEO Rob Reid was quoted as saying a listing was one possibility amidst reports that it recently appointed “Canadian broker Canaccord Genuity to advise on a £100 million-plus initial public offering (IPO).”
International markets respond to Portugal news
Both Tilray and Aurora have both recently released news about their developments in Portugal to differing effect on their stock price.
Tilray has seen its stock dip despite declaring that it had made its first successful harvest. Aurora has seen gains since it announced taking a 51% stake in Gaia Pharma Lda. for an undisclosed sum. Gaia has an approved application to build a cannabis cultivation facility from the Portuguese Health Ministry division INFARMED. Our guide to current Portuguese regulations is here for those that wish to read more.
European regulations liberalise
Switzerland is set to pilot a scheme to allow recreational cannabis use, while Belgium’s parliament approved the creation of a Cannabis Agency to provide prescriptions for medical cannabis.
Bloomberg profiles European cannabis
“Investors who are eager for the cannabis industry in Europe to emulate the boom in pot-stock listings in Canada may not have much longer to wait, judging by the activities of investment bankers.” The article discusses the largest listed companies in cannabis including UK-based Spinnaker, French Gour Medical, German Dermapharm and Danish Stenocare, amongst others.
Autism linked to endocannabinoid system
Israeli researchers have shown that in children and young adults with autism spectrum disorders there were “lower levels of endocannabinoids N-arachidonoylethanolamine (AEA), and some of its related compounds N-oleoylethanolamine (OEA), and N-palmitoylethanolamine (PEA).”
This supports using CBD in clinical trials, and autism spectrum disorders may be the next neurological disorder after epilepsy to be treated with cannabis.
Germany cannabis anniversary
“Two years since legalization, patients in Germany still face hurdles accessing medical marijuana”. Medical cannabis has now been legal for 2 years in Germany as of yesterday but with no domestic cultivation licences yet granted all the opportunity is sitting with foreign investors.
We sat down with the founder of the International Cannabis Business Conference (ICBC) to discuss what it means to run the largest cannabis business conference in Europe and what to expect in Barcelona this Thursday.