Apollon Formularies says new Jamaica facility produces 20-litres of high-quality cannabis oil a day

"There is an increasing global demand for medical cannabis oils, and I believe the oils that will be most sought after will be those that have been validated in pre-clinical and clinical patent data that demonstrates successful results and not just random generic oils with no clinical testing," said chief executive, Dr Stephen Barnhill

Apollon Formularies PLC (AQSE:APOL) said it completed its high-volume medical cannabis extract processing facility in Negril, Jamaica, which is now producing 20 litres of full-spectrum oil per day.

This will allow the company to significantly increase its inventory in preparation for global export to countries where legal import is allowed.

It hopes also to have sufficient medical cannabis products available for potential pharmaceutical partners to perform independent clinical trials to validate the use of the drug in areas such as cancer care.

"Our goal, as a Cannabis Licensing Authority licensed processing facility, is to produce large amounts of the highest quality medicinal cannabis products with demonstrated successful clinical results for the medical patients in Jamaica and export for patients in other countries where legal import is allowed. This new high-volume processing laboratory will allow us to achieve that goal."

Apollon's medical cannabis products were recently shown in an independent pre-clinical evaluation to be highly effective in killing cancer cells.

They are now available to patients by prescription and for clinical trials at the International Cancer and Chronic Pain Institute in Kingston, Jamaica.

The firm’s research goal is to collect clinical outcomes data on these patients to document the treatment success predicted in its pre-clinical testing.

According to a report by Allied Market Research, the global medical cannabis industry generated US$6.82bn in 2020, with that figure is expected to reach US$53.88bn by 2030.

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