A Bay of Plenty medical cannabis firm has this week received what is said to be one of the country’s first commercial licences.

Eqalis Pharmaceuticals Limited secured two Medsafe licences to grow cannabis in Katikati in November last year but was given the commercial licence this week.

Under the framework managed by the newly-created Medicinal Cannabis Agency, which monitors the production and distribution of medicinal cannabis, the commercial licence will allow Eqalis Pharmaceuticals to proceed with plans to develop a range of cannabis-based medicines for the New Zealand market.

Since the legalisation of medicinal cannabis in New Zealand in March this year, Eqalis Pharmaceuticals is one of only a handful of companies to meet the stringent requirements to hold a commercial licence.

Managing director Greg Misson is pleased with their progress to date.

“The path to market for medicinal cannabis is not a short one. We’re thrilled to be on track with our development in what has been an extremely challenging year for many businesses.”

While the commercial licence will allow Eqalis Pharmaceuticals to grow and manufacture medicinal products, they will still need to gain Good Manufacturing Practice certification and then put their products through clinical trials before they can supply the local market’s growing demand for non-opioid pain relief. [Read more @ NZ Herald]