Chris Ison

Medlab approved to perform NSW medical marijuana trials

SHARE prices have shot up for the company chosen to carry out NSW's first medical marijuana trials.

Medlab Clinical listed on the ASX earlier this month before being granted approval on Wednesday to perform the clinical trials.

Share prices increased 5.41% to 19.5c by the day's close of trade and had yesterday risen to 20c.

In announcing it had won the contract, the company said it believed its "small particle delivery platform" could be used to administer smaller doses to reduce risks and complications to patients.

MORE: Australian-first medical cannabis trial starts next year

The NanoCelle vapour technology would allow the plant's chemicals to be used without the need for smoking.

"Further, the NanoCelle platform decreases the possibility of social misuse of the product," the statement said.

The NSW Government has pledged $9 million over four years to carry out the research, starting with 30 adult patients at a hospital in Newcastle.

It will also invest $12 million into a Centre for Cannabis Research and Innovation in an effort to become a global leader in the field.

Results from the study are expected early next year and will lead to broader studies across city and regional hospitals if deemed successful.

-APN NEWSDESK



REVEALED: Is your suburb the worst place to weather a storm?

Premium Content REVEALED: Is your suburb the worst place to weather a storm?

We’ve ranked the most impacted suburbs by storm damage over last financial year...

Man faces court over gun, drug charges

Premium Content Man faces court over gun, drug charges

A Pillar Valley man has been sentenced after a police raid on his property...

OUR BATTLE FOR BORDER: How the fight’s gone so far

Premium Content OUR BATTLE FOR BORDER: How the fight’s gone so far

With the Qld Premier set to make an announcement on a possible border opening...