‘Gamechanger’: $5.5m win for medical cannabis

As the corporate works to deal with the “stigma” surrounding the drug, it desires to present Aussies simpler entry to it in the event that they want it.

Medical hashish prescriber Montu now holds the report for probably the most quantity of funds raised by crowd-funding in Australia on account of 2020 and 2021 campaigns attracting the backing of a whopping $5.5 million.

In November, it hit its most goal of $3.5 million in simply over someday – the second largest single elevate in Australian historical past, with traders elevating the primary million {dollars} in 13 minutes, even crashing the Birchal crowd-funding website.

Montu develops cannabinoid-based merchandise and makes them accessible to sufferers by a nationwide community of medical doctors, initially beginning in Canada earlier than launching in Australia in 2019.

Christopher Strauch, managing director of Montu, mentioned the corporate’s goal is to make medical hashish extra broadly accessible to Aussies, whereas additionally breaking down the stigma surrounding it.

“Not only is it a new medication but also it’s a medication historically known as a drug, so stigma is the biggest barrier in Australia for adoption,” he informed

“It’s simply people have misconceptions. Back in medical school it was educated on the basis it was a drug of dependency and how can we help people stop using cannabis and get away from cannabis.

“Now doctors and people have to change their mind entirely and now it offers therapeutic good and it’s safety profile is significantly better than opioids or SSRIs, which are used with depression or anxiety.”

Mr Strauch mentioned persistent circumstances are perfect for remedy with medicinal hashish, corresponding to persistent ache, epilepsy, Alzheimers and migraines, as many individuals construct up a tolerance to different medicine, which raises the potential of overdoses.

“There are no recorded deaths due to overuse of cannabis, it’s significantly safer and with a better side effect profile,” he mentioned.

“With opioids people can feel groggy, drowsy and have other types of side effects that impact their quality of life and where they can’t go back to work or enjoy hobbies, but medical cannabis significantly improves that from side effect profile and they can enjoy life again, there is very limited downside.”

Yet based on Montu, solely 5 per cent of medical doctors prescribe medicinal hashish in Australia, with uptake gradual as they solely give it to probably the most excessive circumstances.

However, large adjustments have been occurring within the house this 12 months together with permitting CBD merchandise to be made accessible over-the-counter at pharmacies supplied medical trials have taken place and Tasmania becoming a member of different states by not proscribing medical hashish prescribing to specialists.

Montu has skilled 1000 per cent development within the final 12 months, raking in $14 million aided by elevated adoption of telehealth, home-delivery of medicines and digital scripts, based on the corporate.

It is managing greater than 15,000 affected person consultations a 12 months and prescribing 50,000 models of medical hashish yearly.

“Telehealth has been a game changer for the many Australians with conditions that can be treated with medical cannabis,” Mr Strauch mentioned.

“Prior to telehealth, our company was already a pioneer in helping patients gain easy access via a nationwide network of doctors that could service half a million Australians. With telehealth – we can now service every Australian.”

Montu has educated over 1000 Australian medical doctors on medical hashish and supplied them with training and help he added.

“This has seen doctors become more confident prescribers,” he mentioned.

“Their wealth of real-life Australian patient experience will benefit those who want the very best advice. We manage the medical cannabis supply chain vertically from doctor education, clinical care, product supply and distribution, to dispensing of medication.”

Proceeds from the fundraising shall be used to additional spend money on its technological infrastructure and develop affected person consciousness.

The medical hashish business in Australia and New Zealand are predicted to achieve a market dimension of $1.7 billion by 2023.

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