Cann Global snags exclusive rights for Olivia Newton John's cannabis formulations
Written on the 10 December 2019 by David Simmons
Olivia Newton John's (pictured) very public struggle with breast cancer gathered a lot of attention from the global media, especially because of her unconventional approach to overcoming the illness.
Newton John famously took a holistic approach to her stage 4 metastatic breast cancer, using cannabis in conjunction with her conventional therapies.
Now those very same formulations, developed and researched over the last six years by Newton John's husband and cannabis researcher John Easterling, have been secured exclusively by listed medicinal cannabis company Cann Global (ASX: CGB).
Easterling has a renowned history in the world of medicinal cannabis; he founded the Amazon Herb Company in 1990, which has since generated more than $100 million in revenue worldwide.
In an era of endless celebrity endorsements, it is perhaps easy to be cynical about yet another celebrity's name being slapped onto a product; but who better than to spearhead the push for increased access to medicinal cannabis than one of Australia's most famous exports and cancer survivors?
Cann has signed an agreement to secure the exclusive rights to the IP of the unique medicinal cannabis formulations used by Newton John in her most recent battle with cancer dubbed 'Olivia's Choice'.
The formulations will soon be distributed to the global marketplace under Cann Global's label.
Newton John claims the formulations helped her in three main areas: pain relief, increased mobility, and increased healthy blood count numbers.
"John's unique cannabis formulas have been a huge help to me with sleep, stress, mood, and of course pain," says Newton John.
"I was able to wean myself completely off morphine and all pain meds using cannabis which is something I think everyone should know is possible."
"My mobility has increased dramatically. As a complement to my therapies these formulas have been wonderful. All my numbers are moving in the right direction. If you had told me a few years ago I would be talking openly about my experiences with cannabis I never would've believed you, but I feel so strongly about it that I wanted to let it be known and made available for anyone who may require it for medical purposes."
In addition to selling Olivia's Choice through the Special Access Scheme in Australia, Cann Global intends to commence clinical trials using these formulas to be conducted with cancer patients.
In exchange for the Olivia's Choice cannabis formulations Cann Global will transfer to Easterling's Botanical Science (BSPL) 50 million ordinary shares, and BSPL will transfer to Cann 80 per cent of the shares in Easterling's other company Plant Matrix Research (PMRPL).
BSPL will retain a 20 per cent ownership interest in PMRPL post-transfer.
Cann Global has also hinted at the opportunity of potentially independently listing PMRPL on the ASX in 2020.
Shares have spiked in Cann Global following this announcement, up 13.33 per cent to $0.02 per share at 10.15am AEDT.
Business News Australia
Author: David Simmons