Sydney, Australia – 24 September 2024 | Bioxyne Limited (ASX: BXN) (“Bioxyne” or “the Company”), an Australian life sciences and health products business, is pleased to announce that its wholly owned subsidiary, Breathe Life Sciences (“BLS”), has signed an amendment to its existing manufacturing and supply agreement with Aura Therapeutics, an Australian medicinal cannabis distributor. This amendment expands the scope of the original agreement to include the manufacture of edible cannabis pastilles (also often described as “edibles” or “gummies”) and doubles the forecast volumes of cannabis flower products.
Highlights:
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Extended Agreement: The amendment to the existing agreement introduces the production of cannabis gummies and increases cannabis flower product volumes by 100%.
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Revenue Potential: Based on the forecast volumes signed off by Aura Therapeutics, BLS is expected to generate up to A$5.94 million in annual sales. Of this, A$3.14 million is expected to come from pastille production, and A$2.80 million will come from cannabis flower products.
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Australian GMP Certification: All products will be manufactured under BLS’s Good Manufacturing Practice (GMP) licence, granted by the Therapeutic Goods Administration (TGA), positioning the Company as a leading Australian producer of high-quality, pharmaceutical-grade products, ready to expand further into both domestic and international markets.
Sam Watson, Founder & CEO of Breathe Life Sciences and Managing Director of Bioxyne, stated: “As a leading Australian cannabis manufacturer, we are supplying Australian-made pharmaceutical goods to both domestic and international markets. We are proud to be the trusted manufacturing partner of great companies like the one Tom Fay and his associates have built.”
Operational Update:
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BLS has completed validation batches of pharmaceutical-grade cannabis pastilles following the award of its comprehensive GMP licence from the Therapeutic Goods Administration (TGA) in February 2024.
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Australia’s medicinal cannabis market is experiencing rapid growth, with BLS poised to capitalise on this trend as the first licenced Australian producer of cannabis pastilles, which were previously only imported from international producers.
Jason Stephens, General Manager of BLS Australia, added: “This is another significant milestone for BLS, as well as the broader Australian pharmaceutical manufacturing and medical cannabis industry. Australia is becoming a global medical cannabis hub, and BLS is quickly becoming a substantial proponent. Our focus as a company is building strong ties with our customers and providing high-quality GMPcertified manufacturing services.”
Next Steps:
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BLS is ramping up its manufacturing capacity to meet the demand from the Australian and international markets, which is still increasing.
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The Company continues to explore additional opportunities in the manufacture and supply of alternative pharmaceuticals, including psilocybin and MDMA.
Sam Watson
Managing Director
Bioxyne Limited
hello@breathelifesciences.com
Jason Hine
Chief Operating Officer
Bioxyne Limited
info@bioxyne.com
Jane Morgan
Investor & Media Relations
Jane Morgan Management
jm@janemorganmanagement.com.au
About us:
About Bioxyne Limited:
Bioxyne Limited (ASX:BXN) is an Australian life sciences and health products business. In June 2023 Bioxyne acquired BLS in an all shares transaction, becoming the parent company of Breathe Life Sciences (“BLS”) and DR Watson®. The Group, which is headquartered in Sydney and has offices in London, Manchester, Prague, Brisbane, and Nagoya, manufactures and distributes novel pharmaceuticals and consumer health products globally.
About Breathe Life Sciences:
Bioxyne Limited’s wholly owned subsidiary, Breathe Life Sciences (BLS), manufactures, commercialises, and distributes medical cannabis, psychedelics, novel foods and consumer health products under our own brands and for third party brands.
BLS’ goal is to become the market leading Australian manufacturer of novel pharmaceuticals and medicine products derived from Cannabis, Psilocybe Cubensis, and MDMA. In Australia, BLS is licensed to manufacture MDMA and Psilocybin products for commercial supply to authorised prescribers and clinical trials in Australia and global export markets. In the UK and Europe, BLS is a market leader in the supply of CBD (Cannabidiol) and functional mushroom products to national retailers and Amazon. BLS manufactures private, white label, and under its own brands in its UK and EU facilities.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
