Ananda Developments to launch first medical cannabis oil in June

Ananda Developments (AQSE:ANA) said newly acquired subsidiary MRX Medical is to launch its first cannabidiol medical cannabis oil in two clinics in June.

MRX1 cannabidiol medical cannabis oil has also been put on stability trials ahead of two Randomised Controlled Trials, it added. 

Elsewhere, Aquis-listed Ananda, which is developing cannabis products to treat complex, chronic inflammatory pain conditions, said that preparations are underway for the construction of a medical cannabis flower processing facility (GMP1).

An approved processing facility is a requirement of UK regulator MHRA and Ananda said it will grow three cultivars in 2023 according to Good Agricultural Collection Practice (GACP) to demonstrate its capabilities.

Melissa Sturgess, chief executive, said: “We have always maintained that building our business carefully will reap dividends.

“It is no coincidence that we are now in a position to launch medical cannabis oils and getting close to constructing our medical cannabis flower processing facility, at the same time as Prohibition Partners, one of the leading industry commentators, predicts that the UK will become the second largest medical cannabis market in this year.”

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