A NEW $10 million study into medicinal cannabis will be undertaken at a top-secret research facility in regional NSW, Minister for Agriculture, Adam Marshall, announced today.
Mr Marshall said the research study was the result of a collaboration between the NSW and Commonwealth governments, the Cann Group Ltd, Southern Cross University, Aglive and the University of Newcastle.
"This ground-breaking research study will consider all aspects of the supply chain, including everything from ideal growing conditions to medicinal compound analysis and supply chain traceability," Mr Marshall said.
"Through this study, the NSW Government will build on its ongoing research into the agronomic parameters for cannabis plants, and finding the ideal conditions for producing high quality, year-round, consistent medicinal cannabis products.
"This collaboration will enable DPI (Department of Primary Industries) to more than triple the number of researchers dedicated to finding the best ways to manage the plants, ensuring they have the highest medicinal benefit.
"It will also ensure our researchers have access to essential industry knowledge and insights, giving us the potential to drive this research much further and faster than would have otherwise been possible."
The industry-led study was initiated by Cann Group Ltd, the first company to be issued a Cannabis Research Licence by the Australian Government.
Cann Group Ltd chief executive officer Peter Crock said the project was a critical step in the delivery of therapeutically consistent and safe medicinal cannabis products.
"Australia is competitively placed to deliver uniquely differentiated medicinal cannabis products into global markets and this partnership will help to ensure the industry can capitalise on that opportunity," Mr Crock said.
The NSW Government will contribute more than $3 million to the project, while the Commonwealth Government will invest $3 million through its Cooperative Research Centre Program. The other partners will contribute nearly $4 million.