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Home 🌿 Marijuana Business News 🌿 Australia: Shares in medical cannabis biotech MGC Pharmaceuticals spike in backdoor listing 🌿

Australia: Shares in medical cannabis biotech MGC Pharmaceuticals spike in backdoor listing

Submitted by Marijuana News on Tue, 02/23/2016 - 09:01

Medical cannabis company MGC Pharmaceuticals completed its backdoor listing on the ASX today with a reverse takeover of Erin Resources. 

A short time ago, its shares were up 7.6% to $0.028.

The biotech startup has appointed Sydney cardiologist and media presenter Dr Ross Walker to its board to engage with the emerging medical cannabis market in Australia.

The company is also working with the University of Sydney business school for a white paper to advise governments on the creation of an medical cannabis industry.

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MGC Pharmaceuticals is establishing its first production facility in Europe, a cultivation and extraction plant in Slovenia. The company’s skin formula for the relief of psoriasis recently passed stage...

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