Medical cannabis firm MMJ PhytoTech has teamed with two strategic partners to enter the Australian market.
MMJ is listed on the Australian share market and has medical cannabis cultivation facilities in Canada, a research arm in Israel, and a subsidiary called Satipharm that currently distributes a cannabinoid-based food supplement in the European Union.
It has now signed a letter of intent with NSW's Fresh Therapeutics Compounding Pharmacy to import and dispense Satipharm's products.
The first product expected to be distributed will be the Gelpell oral capsule for administering medicinal cannabis as a food supplement.
MMJ has also signed a letter of intent with Epilepsy Action Australia to promote access to medical cannabis in Australia and cannabis-based treatment options for epilepsy.
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"These agreements set in motion our entry into the Australian market," managing director Andreas Gedeon said.
"By partnering with Fresh Therapeutics to import our existing cannabis products into Australia, we are ensuring that we are able to capitalise on regulatory change as it is ratified while still generating cash flow under the existing legislative system."
Shares in MMJ were one cent higher at 26.5 cents at 1545 AEST.
