Bod Australia Limited announced that it will launch a new medicinal cannabis product to the Australian market in July, available to consumers through the Therapeutic Goods Administration's (TGA) Special Access Scheme Category B.
The TGA's Schedule Access Scheme allows certain healthcare practitioners to access certain therapeutic goods including medicines, medical devices and biologicals that are not included in the Australian Register of Therapeutic
Goods (ARTG) for a single patient. Bod has been consistently selling products through SAS-B channels since 2018 and has built a strong foothold in the market. The new product will be launched under Bod's existing medicinal cannabis brand as MediCabilisTM and sold as Bod Bio-Absorb 100TM. Bio-Absorb 100TM is made up of a uniquely developed CBD formulation in a soft gel delivery format and is currently being utilised in the Company's phase II clinical trial. The launch will highlight the Company's fourth product available to Australian consumers through prescription channels. Upon successful completion of Bod's phase II clinical trial and other required regulatory approvals, Bio-Absorb 100TM will be sold over-the-counter through pharmacists. The launch of Bod Bio-Absorb 100TM will expand Bod's existing medicinal cannabis range, introduce a new delivery format for consumers and complement the Company's existing products that are being used to alleviate a range of conditions including chronic pain, anxiety and insomnia amongst others. To drive product awareness and uptake, the Company has engaged with a number of healthcare professionals and approved prescribers to further educate them on the benefits of Bod Bio-Absorb 100TM. Bod will provide additional updates on the launch and product sales growth as it materialises.