$100m cannabis facility to work with world-class researchers
THE company planning to build a $100 million medicinal cannabis facility near Casino has announced plans to enter into a major research partnership.
PUF Ventures Australia has filed an application with the Australian Office of Drug Control to obtain a medicinal cannabis license and a cannabis research license in collaboration with the National Institute of Complementary Medicine.
This health research institute is based at the Western Sydney University in New South Wales.
PUF Ventures Australia aims to conduct medical research with academic input from the institute at its proposed Northern Rivers project.
The research would take place in a 10,000-square foot dedicated laboratory, training centre and research facility.
The entire facility, which will be built near Casino, will be a 1.2 million square foot medicinal cannabis cultivation greenhouse and extraction plant.
PUF Ventures Australia chief executive, Michael Horsfall, said the "world-class research institute" will provide independent academic expertise to PUF's research agenda.
"This is a significant step forward to allow PUF Ventures Australia to focus on its mandate to develop innovative medicinal products," he said.
National Institute of Complementary Medicine deputy director, Professor Jerome Sarris, said there was "tremendous mutual value in this evolving research relationship".
"As an institute specialising in medicinal plant research, to collaborate with an organisation such as PUF Ventures Australia, with a grand and inspiring vision, holds significant medical potential," he said.
"There is a growing global appetite for 'clean-green' high-quality medicinal plants, and in particular, medicinal cannabis, which presents immense health opportunities.
"NICM engages in selective research collaborations in medicinal cannabis, and the PUFA Northern Rivers Project is a significant development in the field which we are proud to be involved with."