Medicinal cannabis research underway, receives grant from Turnbull government

The Turnbull government will be awarding the University of Melbourne almost $500,000 for enhancing the production scale of medicinal cannabis. The program aims at bettering the process of extracting parts of cannabis plants that can be used as an alternative form of treatment for chronic pain.

The announcement of the grant, worth $446,000, by Education Minister Simon Birmingham will come Friday. As part of the program, researchers will be evaluating a variety of weed crops and determining which among them are ideal for cultivation in Australian conditions.

The move could drive the local cannabis sector and give patients a legal channel to acquire the drug. Until now, several patients had to resort to illegal means. The industry is expected to be worth $150 million as initial demand could surge to 8,000 kilogrammes of plants every year.

“We’re backing this project because we can see the clear benefits of having local medicinal cannabis production and a local supply chain for the many patients that stand to gain from the use of medicinal cannabis products,” Birmingham said. According to Professor Tony Bacic, part of the team of researchers, the country “has the potential to become a major player” in the cultivation of cannabis. The country has had a strong agricultural record.

The first medicinal cannabis crop was harvested by the Victorian Government earlier this year. By the middle of 2017, the plant will be used as a form of treatment for children.

Meanwhile, millionaire Barry Lambert is looking to run for Senate in a bid to fight for the medicinal cannabis legalisation. “I would run for Senate on the basis that medicinal cannabis needs to be legal. I wouldn't be aligned to any party, I'd run as an independent. I've got a huge following in the accounting profession, I'd be surprised if I couldn't win a Senate seat," he said, speaking with the Australian Financial Review. By the end of 2016, Lambert, along with his wife Joy, had donated as much as US$3 million (AU$3.97 million) to support the Centre for Medical Cannabis Education and Research at Thomas Jefferson University.

The government announced in February it will relax the laws on imports of medicinal cannabis. Last month, the drug was imported from Canada to treat 29 children suffering from epileptic seizures. While the government has announced its plans to legalise the cultivation and sale of the drug, with many companies that have already been listed on the ASX, patients are still finding it difficult to acquire it.

Source: YouTube/AFP News Agency