Bundaberg-based medicinal cannabis manufacturer Canndeo has not yet commenced full scale production but they’re already attracting global interest from a Chinese pharmaceutical, medical and research organisation.
In a new era of pharmaceutical development the company is primed to lead in the emergent field of medicinal cannabis breeding ultra-low THC, elevated CBD medicinal cultivars.
Canndeo CEO Ken Charteris said interested parties visited the Bundaberg site today representing the organisation.
“Chinese researchers are exploring other opportunities for complementary biofloral production for extraction and compounding into medical and veterinary end products,” Mr Charteris said.
“This comes after Canndeo received all relevant permits for research and development and end-product production from the Federal Government.”
The company is set to officially open its Southport facility next week and is already investing heavily in the Bundaberg area.
“Expansion of the Bundaberg operation has commenced, with a vertically integrated approach, supplying Bundaberg produced and bred strains to our large Queensland based extraction plant.
“This is about providing safe and reliable medication in a cost-competitive and well-regulated manner, initially for the local market then expanding into export markets.”
He said Canndeo prided itself on innovation and leadership in the field of bio-extraction and was already generating agronomic, technical and regulatory jobs in the Bundaberg Region.
“Opportunities exist for government agricultural, research and clinical collaboration.”
Mayor Jack Dempsey was pleased to meet with Canndeo representatives today to welcome the Chinese delegation to the region.
“The establishment of Canndeo’s major production and growing facility in Bundaberg is a win for the region,” Mayor Dempsey said.
“Not only will it create skilled jobs but it will boost our credibility in the agtech space.
“I congratulate John Hall, Scott Coleman and the local team on this venture and investment in the region.”
Mayor Dempsey said Council, through its economic development, will now work with Canndeo to attract State and Federal Government grants to support the next stage of investment in jobs and growth in the region.
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