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Natural medicine and cosmetics company Bod Australia (ASX: BOD) has announced it will be importing cannabis extracts to use in its latest product.
Under its permit issued by the Office of Drug Control, Bod will now begin importing cannabidiol (CBD) powder to create a new cannabis-based wafer which is absorbed under the tongue.
Bod is currently finalising its CBD order with Swiss pharmaceutical company Linnea and, following up to eight weeks of formulation, the new sublingual wafer is expected to enter clinical trials.
Bod Australia CEO Jo Patterson said importing cannabis-based products is a major step for the company, one which is expected to lead to other key opportunities.
"This is a significant milestone for the company and another important step in the commencement of our Phase 1 Clinical trials to test the safety, tolerability and pharmacokinetics of Linnea's unique cannabis extracts for use in natural medicines and cosmetic products," says Patterson.
"Our ongoing discussions with the Office of Drug control regarding additional product imports are progressing well, with the view to importing Linnea's market-leading CBD oils."
Bod's long-term goal is to develop a range of over the counter and therapeutic products based on GMP-certified cannabis extracts.
In the Australian market, Bod has access to more than 800 pharmacies and it also targets Asian markets through 'daigou' relationships.
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