Medibis partnership with Israel-based cannabis company is the first step towards launching a cannabis product in Australia, and building its cultivation facility in Toowoomba.
Homegrown medicinal cannabis company, Medibis, is about to launch a range of cannabis medicines on the Australian market, following its efforts to raise funds via the crowd funding platform, Birchal.
The company is also set to embark on research into cannabinoid-based medicines and says it’s excited about the prospect of discovering new treatments.
Medibis has also announced long-term plans to build a medicinal cannabis facility in Toowoomba, Queensland, as it sets eyes on the lucrative multi-billion dollar medicinal cannabis industry.
Ultimately, Medibis aims to launch products which have formulations that include CBD oil, THC oil, and raw cannabis flower, to treat multiple conditions for Australian patients.
According to the latest research, the global medical cannabis market is growing at 25 per cent per year, and is expected to reach US$104 billion by 2028.
Medibis is currently raising around $1.6 million on the Birchal platform, and believes that investors would be rewarded as the industry undergoes massive and rapid changes.