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Medicine Man Partners Nature's Answer For Cannabis Products In New Zealand

(RTTNews) - New Zealand-based medical cannabis startup Nature's Answer said it has teamed up with Colorado-based Medicine Man Technologies Inc. and MedPharm Holdings to provide organic cannabis products in New Zealand.

Nature's Answer noted that the partnership with Medicine Man Technologies will accelerate the introduction of certified, exhaustively researched cannabis products for people in need as soon as the law in New Zealand allows.

"Owing to the legal status of cannabis in New Zealand right now, we're in a situation where introducing a full range of pharmaceutical products isn't yet possible. However, our exclusive partnership with Medicine Man Technologies and MedPharm provides access to their intellectual property and formulations for the creation of products which can be made available to patients as soon as the legislation changes," said Angela Calver, Managing Director of Nature's Answer.

Nature's Answer presently holds a license in New Zealand to cultivate cannabis for research.

According to Calver, the recently introduced Misuse of Drugs (Medicinal Cannabis) Amendment Act, is a step in the right direction for cannabis legalization in New Zealand.

The law passed in late 2018 provides an exception and statutory defense for individuals who require palliative care to possess and use cannabis. Under the law, cannabidiol or CBD, the non-psychoactive product of cannabis, and CBD products are no longer classified as controlled drugs.

However, Calver said she believes more needs to be done to de-stigmatise and legalise a product that is widely used in New Zealand and generally sourced on the black market, and for which research suggests multiple medical applications.

MedPharm has a license in Colorado to conduct research to include clinical trials. Medicine Man Technologies recently announced MedPharm as an acquisition target and the companies regularly consult in several markets in the U.S. and abroad.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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