AFT Pharmaceuticals signs an agreement with NZ cannabis supplier
ASX-listed company AFT Pharmaceuticals has announced their entrance into the medical cannabis industry, after signing an agreement with New Zealand-based cannabis company, Setek.
AFT first entered into an agreement with Setek in October 2019, undertaking a year of research and development into potential medical cannabis products and the Australasian market.
Now, the new agreement sees AFT buying Good Manufacturing Practice (GMP) quality pharmaceutical-grade medicinal cannabis from Setek. AFT has announced plans to sell medical cannabis products into several markets, starting in Australia and New Zealand. The company has not confirmed when these products will be launched.
In a statement to investors, AFT co-founder and Managing Director Hartley Atkinson wrote:
We have carefully studied the Australasian market and the required strategies to commercialise a new set of medicinal cannabis products
AFT has an office in Sydney but is based in Auckland.
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Mike Frigger
Mike is the founder and editor of Cannaus. With over a decade of experience in cannabis journalism, he's an advocate for legalising cannabis and covers much of the cannabis journey in Australia.