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MEDIPHARM LABS LAUNCHES NEW GMP PRODUCTS TO THE AUSTRALIAN MEDICAL CANNABIS MARKET

Medipharm Labs Corp. has launched Canadian-produced GMP (good manufacturing practices) Beacon Medical cannabis oil and inhalation cartridges in the Australian medical market.

Medipharm is uniquely positioned to service this expanding medical market as it holds an Australian GMP licence from the Therapeutic Goods Administration (TGA), complemented by its GMP status from Health Canada (drug establishment licence) and United States Food and Drug Administration. In July, 2023, the TGA revised import and medical cannabis regulations, requiring all products to meet cGMP (current GMP) standards. This bans the import of products from non-GMP sources, limiting Medipharm's competition in the manufactured cannabis product segment.

The cannabis oil portfolio comprises a high-cannabidiol isolate (tetrahydrocannabinol-free) oil; a balanced oil; and a THC-dominant full-spectrum oil made with Beacon's popular medical flower strains.

The inhalation cartridges include flavour-forward options popular with patients in the Canadian market and strain-specific full-spectrum cartridges that utilize flower varieties already favoured by Beacon Medical patients.

With Beacon Medical's Pink Kush and GSC products now available in flower, oil and inhalation formats, the company provides physicians and patients with three unique delivery methods to consume the same full-spectrum strains. This option uniquely positions the Beacon Medical brand in international medical cannabis markets.

Deliveries of inhalation cartridges to patients began this week, and cannabis oils are scheduled to ship from Canada this week. Beacon Medical Australia looks forward to educating and collecting feedback on these products from physicians and patients with the help of its recently expanded medical scientific liaison field team. This allows Medipharm Labs further access to the Australian medical cannabis market projected to reach nearly $200-million (U.S.) in 2023, according to Satista.

About Beacon Medical Australia

Established in 2018, Beacon Medical Australia is a wholly owned subsidiary of Medipharm Labs. The brand is in the top five of cannabis flower sales by value and has now expanded its portfolio of non-smokable formats.

The team is lead locally by George Polimenakos who is a seasoned veteran in the pharmaceutical and Australian medical cannabis industry. Entering the cannabis industry with Tilray Brands Australia, Mr. Polimenakos has a wealth of experience educating stakeholders on the potential benefits of medical cannabis and expanding medical cannabis business.

Medipharm Labs also distributes Beacon Medical products to patients in Canada and Germany with plans to expand into new international markets in 2024.

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a good manufacturing practices certified facility with ISO standard-built clean rooms. Medipharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies, and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. Medipharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

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