MGC, major universities form medical cannabis R&D hub
MGC Pharmaceuticals is looking to the future with its formation of an international research hub for medical cannabis with the Royal Melbourne Institute of Technology and The Hebrew University of Jerusalem.
The new research hub, “Cannahub”, will formally launch in the first quarter of 2019 and serve as the company’s primary research and new product development engine.
This is the first time the two universities have partnered with a private company to form a research institute in this sector.
It also extends MGC’s existing agreement with the Royal Melbourne Institute of Technology covering a research partnership on cannabis genetics and cultivation to treat a range of diseases, including cancer.
Cannahub will initially focus on the use of medicinal cannabis in the treatment of cancer, the effectiveness of traditional and medicinal cannabis combination treatments and drug delivery systems.
All intellectual property developed will be wholly-owned by CannaHub under the partnership agreement with MGC having the first right to use on any data, technology, findings and/or innovations generated.
Cannahub will act as the company’s primary research and development engine, supporting its growth strategy of becoming a leading pure bio-pharma company with a fully integrated seed-to-pharma business model.
Research departments at other leading medical research universities and related industry bodies will also be invited and incentivised to join CannaHub by student exchange programs, royalty payments, availability of infrastructure and the potential to secure funding.
MGC Managing Director Roby Zomer said: “CannaHub is designed to advance world leading research and push forward innovation within the medicinal cannabis pharmaceutical market.”
MGC Pharmaceuticals (MXC)
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