Over the past two years, medical cannabis has become an exciting institution on the Australian Stock Exchange (ASX).

Australian cannabis companies received the Federal Government's green light in early 2017 to start importing medicinal products and make patient-specific sales throughout the country.

In early 2018, cannabis stocks again soared when Federal Health Minister Greg Hunt announced that companies could begin exporting products internationally.

Diversity has since blossomed in the industry, with specialty areas ranging from medicinal products and research-based businesses to animal therapeutics and consumables companies.

The Business News Australia Cannabis Index features all companies listed on the ASX, based at home and overseas, which have made their mark on Australia's medical cannabis industry.

Algae.Tec

Head office: Perth
Official Listing date: 13 Jan 2011
Ticker: AEB
*Current share price: $0.02

As its name suggests, Algae.Tec is in the business of supplying sustainable and renewable algae products.

Generally it works in the proteins and biofuel oils space, but the call to cannabis has been irresistible for the company which, at the start of 2018, launched a capital raising round to seek a $2.5 million boost.

Later in May, the company went on to secure a partnership with Canadian-based Radient Technologies (TSXV: RTI) to develop high-end nutraceuticals in an effort to crack the fast-growing global market.

Executive chairman and managing director Malcolm James said the partnership brings the company closer to distribution, unlocking new opportunities.

"This is a significant partnership for Algae.Tec as it will enable us to leverage Radient's superior extraction technology, and it represents one of the final steps in the production of a variety of products for the high-end nutraceuticals market," he says.

"The global nutraceuticals market provides a compelling opportunity for the business and we look forward to providing our shareholders with the outcomes of this first round of extraction testing this quarter."

Algae.Tec announced last month that it had secured a crucial $7 million finance facility to drive operations within both its algae and cannabis divisions.

The funds will support operations including a feasibility study of the development of a new algae in North America, its partnership with Radient and its venture in Uruguay.

Read more from Algae.Tec

• Algae.Tec to raise $2.5m for cannabis development
• Cannabis companies join forces to create medicine for animals

Atlas Pearls

Head office: Perth
Official Listing date: 31 Dec 1993
Ticker: ATP
*Current share price: $0.02

In 2013, Atlas Pearls bought 50 per cent of Essential Oils Tasmania (EOT) which has become a player in the cannabinoid-based natural medicine arena.

EOT made significant strides at the end of last year when it entered a joint venture with LeafCann Group to pursue a medical cannabis license in Tasmania.

The end goal is to seek a series of licenses which will support a full supply chain of medical cannabis solutions.

When the companies joined forces, Atlas managing director Pierre Fallourd said it married LeafCann's scientific "relevant expertise" with EOT's three decades worth of "farming capability".

"Together we represent an experienced, well credentialed team with the capability to produce a quality product."

Atlas said Tasmania was the natural choice for medical cannabis operations considering the state already has a significant poppy farming industry which provides restricted ingredients to the pharmaceutical sector.

Aside from its Cannabis endeavours, in April and June this year the company made significant strides in the Japanese pearl market.

Its latest private pearl auction held in Kobe attracted $2.4 million in sales, with the average price soaring 15 per cent above comparison prices from six months ago.

AusCann Group

Head office: Perth
Official Listing date: 3 May 1989
Ticker: AC8
*Current share price: $1.50

Shares in AusCann Group first cracked the $1.00 mark when the Federal Government announced in January 2018 that it would allow Australian companies to begin exporting cannabis products.

The company went on to sign a wholesale deal with Australian Pharmaceuticals Industries (API) only a few weeks later, sending its stock even higher.

The deal opened up AusCann to API's nationwide network of Priceline Pharmacies and it also meant AusCann would be supported in establishing its own local supply of medications from Canadian partner Canopy Growth Corporation.

AusCann is largely focused on manufacturing and supplying quality medical cannabis products to be used in clinical research and it is a supplier to Zelda Therapeutics, another one of the Aussie companies to make this list.

AusCann has also partnered with Chilean company Fundacion Daya to grow and research new cannabis crops. It celebrated the planting of its second crop in Chile in December 2017.

Read more from AusCann Group:

• Cannabis producer signs wholesale deal with Priceline owner
• ASX Listed cannabis companies dominating in South America
• AusCann resumes trade after $12 million capital raising

Bod Australia

Head office: Sydney
Official Listing date: 27 Oct 2016
Ticker: BDA
*Current share price: $0.47

Bod Australia is another cannabis player on this list that couldn't resist dipping into the honeypot.

The cosmetics and natural medicines company partnered with New Zealand producer Manuka Pharma in January 2018 to develop and manufacture a new hemp honey brand, which it eventually plans to import into Australia.

According to Bod, New Zealand's biggest honey markets are Australia, the UK, China and Hong Kong with global import demand estimated to be around $2.6 billion.

Bod Australia was among the biggest beneficiaries when the Federal Government legalised medical cannabis exports at the start of this year.

During a single day of trade in early January Bod's stock price soared 39.5 per cent and has since continued to climb.

Outside of its honey operations, Bod recently signed a contract with pharmaceutical company iX Biopharma to develop a 'trial ready' wafer product.

The cannabis-imbued wafer, when placed under the tongue, dissolves within one minute to release compounds for rapid absorption and leaves no aftertaste.

Read more from Bod Australia:

• Cosmetics and health company begins importing cannabis products
• Bod Australia signs agreement to develop a line of hemp-based Manuka honey
• Skincare company receives landmark cannabis import license

Botanix Pharmaceuticals

Head office: Perth
Official Listing date: 24 Jan 1985
Ticker: BOT
*Current share price: $0.11

Botanix Pharmaceuticals is all about the skin.

Its aim is to research and develop (R&D) new ways to combat serious diseases including acne, psoriasis and atopic dermatitis through cannabis-based products and so far, it's been kicking goals.

It recently completed one of its biggest trials to date, testing the effects of its BTX 1503 product on patients with moderate to severe acne.

Executive director Matt Callahan said the results showed BTX 1503 was "potentially a very safe and highly effective therapy" for acne sufferers.

On 16 January 2018, Botanix received a tax incentive R&D cash injection of $1.6 million which it used to boost BTX 1503's development.

BOT stock has more than doubled from $0.06 to $0.14 since the beginning of 2018 and the company is currently in a trading halt pending its next announcement expected on 5 February.

Read more from Botanix Pharmaceuticals

Cann Group

Head office: Melbourne
Official Listing date: 4 May 2017Ticker: CAN
*Current share price: $3.23

When it comes to Australian cannabis companies, most are attempting to fill a specific niche. But Cann Group, listed in early 2017, is taking a holistic approach.

Research and product development is the name of the game for Cann Group, which currently holds the largest cannabis cultivation facility in Australia based right near Melbourne Airport.

The company was issues Australia's first ever Medicinal Cannabis Research Licence in February 2017, which allows Cann to cultivate medicinal cannabis and conduct research on the use of cannabis for medicinal purposes.

The team are diving head first into their research about how cannabis can really help people by developing medicinal cannabinoid oil for a range of conditions.

Cann Group were also issued Australia's first ever Medicinal Cannabis Cultivation Licence, allowing the company to grow their very own marijuana that can be prescribed for patient use.

Their vision is to be Australia's leading developer and supplier of cannabis, cannabis resin and medicinal cannabis products, and they're well and truly on their way to become that.

Read more from Cann Group:

• Cann Group to build Australia's largest medicinal cannabis operation
• Cann Group secures pivotal Canadian import permits to take research to the next stage
• Cann Group to scale up production after being granted two new licences
• MELBOURNE CANNABIS COMPANY CULTIVATES ITS FIRST CROP
• CANNABIS COMPANY SECURES PERMITS FOR NEW PLANTS TO BEGIN CULTIVATION
• CANNABIS COMPANY SHARES DOUBLE AFTER FIRST DAY OF TRADE

CannPal Animal Therapeutics

Head office: Sydney
Official Listing date: 25 Oct 2017
Ticker: CP1
*Current share price: $0.24

Who says medical cannabis is just for humans?

CannPal is a pet pharmaceuticals company that is researching how cannabis can influence therapeutic functions in our furry friends, namely cats and dogs.

The company aims to treat common conditions in animals including arthritis, cancer and tumours, using medical cannabis-based solutions to alleviate symptoms including nausea, loss of appetite, depression and internal bleeding.

At the beginning of 2018, CannPal was among a handful of companies to receive a medical cannabis import license from the Office of Drug Control.

The license allows CannPal to continue research into its flagship drug candidate, CPAT-01, a pain medication alternative to non-steroidal anti-inflammatories.

CannPal was also recently granted small-medium enterprise (SME) status by the European Medicines Agency which opens the company up to administrative and financial assistance for the development of its drugs in Europe.

The company was granted SME status in collaboration with its European research partner Klifovet AG.

Creso Pharma

Head office: Perth
Official Listing date: 20 Oct 2016
Ticker: CPH
*Current share price: $0.89

While Creso Pharma's roots have always been in nutraceuticals, it hasn't stopped the company from branching out into other weird and wonderful areas of cannabis production.

Creso Pharma broke into the beer market in January 2018 when it partnered with LGC Capital and Baltic Beer Company to capitalise on the growing trend of cannabis-based drinks.

The created joint venture company, called CLV Frontier Brands, intends to develop and globally sell a portfolio of cannabis and hemp-derived drinks containing various ingredients, seeds, extracts and terpenes from the plants.

While the alcoholic and non-alcoholic variants will be designed to carry the flavour and aroma of cannabis, they won't contain any THC or CBD components.

At its core, Creso Pharma is focused on developing cannabis and hemp therapeutic products and treatments for humans and animals.

Its flagship CannaQIX product is a lozenge made with cannabidiol extracted from the plant which is designed to reduce stress and support mental and nervous functions.

CannaQIX recently hit the shelves of pharmacies and health food stores throughout the UK after Creso Pharma finalised its distribution deal with Precision Healthcare Limited.

Read more from Creso Pharma:

• Pharmaceutical company launches cannabis lozenges in the UK
• Cannabis company signs 10-year distribution deal in Switzerland
• Creso Pharma enters the beverage market
• Creso Pharma launches product into New Zealand

Elixinol Global

Head office: Colorado & Sydney
Official Listing date: 8 Jan 2018
Ticker: EXL
*Current share price: $1.39

Australia's cannabis industry has gained momentum over the past year; enough to attract serious interest from established international players. 

Enter Elixinol Global, one of the few companies on this list to be born from an overseas company.

Elixinol Global was formed in January 2018 when Colorado-based Elixinol LLC joined forces with Hemp Foods Australia to form a new worldwide brand and launch an IPO.

The company may be new to the ASX, but it is no stranger to big international business. Elixinol distributes its hemp-based CBD products to 27 different countries and has access to global markets in skin care, hemp foods and medical cannabis.

Under Elixinol Global's company structure, Hemp Foods Australia is the manufacturer and distributor of hemp food products and skin care, while Elixinol LLC is the bulk and retail provider of hemp-based cannabidiol (CBD) dietary supplements and topical products.

eSense Lab

Head office: Israel
Official Listing date: 14 Feb 2017
Ticker: ESE
*Current share price: $0.21

As the only company on this list headquartered entirely overseas, the Israel-based eSense Lab is doing things a little differently to the other players.

Namely, it's not actually manufacturing cannabis. The company instead works to artificially recreate the chemical compounds that are synthesised naturally by cannabis plants, called 'terpenes'.

Terpenes are the organic compounds found in cannabis plants which are responsible for flavour and fragrance, along with many health and medical benefits.

Using these reconstructed terpenes, eSense uses the plant's chemical profile to create products including concentrated 'cannabis drops'.

The edibles manufacturer is also currently working on a new cannabis-infused beer product with Sydney-based Young Henry's Brewing Company.

Under its memorandum of understanding, eSesne and Young Henry's will develop a line of terpene-based beer with the intention to enter into a further definitive agreement on the product's completion.

To date eSense has profiled thousands of samples to develop 10 different terpene profiles. A further 20 strains of cannabis is currently in development.

Eve Investments

Head office: Perth
Official Listing date: 8 April 2004
Ticker: EVE
*Current share price: $0.01

Nothing has been sweeter than honey for technology investment company Eve Investments since it first acquired a 50 per cent stake in tea tree and honey farmer Jenbrook, based in northern New South Wales, in May last year. 

After getting a taste for Jenbrook's product pipeline, which includes different types of melaleuca and medical cannabis-based honey, Eve went on to acquire 50 per cent of Meluka Health in late-2017.

Meluka is a health and wellness company that specialises in organic cannabis-based honey.

Recently Meluka made strides in the Chinese market by entering a joint agreement to develop a new honey water product alongside ASX-listed company Refresh Group (ASX: RGP).

Ben Rohr, director of Eve Investments, said working with Refresh Group to produce such a singular product would help establish the brand in China.

"This is a great first step for Meluka Health to enter into this burgeoning market," he said.

Read more from Eve Investments:

• Eve dips into hemp honey through latest acquisition

The Hydroponics Company

Head office: Sydney
Official Listing date: 4 Apr 2017
Ticker: THC
*Current share price: $0.74

Not only is the aptly named 'THC' in the business of developing medical cannabis, it also manufactures and distributes hydroponics equipment including associated materials and nutrients.

The company operates its growing facility out of Queensland and CEO David Radford said it plans to establish a series of "national access cannabis clinics" in the coming months.

THC is on track to import its first medicinal cannabis product range from Endoca, a CBD oil extract company founded by young Danish entrepreneur Henry Vincenty.

The company's share price first spiked in mid-November 2017 when it wrapped up an $8 million share placement, largely to support its operations in Canada.

On 24 January 2018, THC revealed its takeover bid for Canadian company Crystal Mountain-Dragon Vision (CMDV).

Once due diligence has been finalised, THC expects CMDV will rake in CD$20 million revenue per annum.

Read more from The Hydroponics Company:

• THC shares soar following acquisition of Southport refinement facility

LifeSpot Health

Head office: Fitzroy, Victoria
Official Listing date: 11 Jan 2017
Ticker: LSH
*Current share price: $0.14

LifeSpot Health is primarily a tech company, developing smartphone-based applications for medical diagnosis and health monitoring.

LifeSpot's apps BodyTel and My-LifeSpot allow users to digitally diagnose certain conditions, including skin diseases, and manage key vital functions associated with chronic conditions like diabetes.

While it's not necessarily a cannabis company to the core, LifeSpot did form a memorandum of understanding last year with Seng Vital to create a 50/50 joint venture surrounding the German company's Cannamed vaporiser.

Under the joint venture, Seng Vital integrates its vaporiser into LifeSpot's BodyTel platform and the technology monitors the dosage and time spent consuming cannabis. It also provides additional clinical security via fingerprint scan.

LlifeSpot has intellectual property rights regarding its user compliance technology, including the fingerprint scanner, which it also applies globally to other products.

Medlab Clinical

Head office: Sydney
Official Listing date: 14 July 2015
Ticker: MDC
*Current share price: $0.84

Months of R&D into its flagship NanaBis product has recently paid off for Medlab Clinical, as it was recently granted licenses to sell and supply cannabis products throughout Victoria, Queensland and the Australian Capital Territory.

NanaBis is a buccal spray product that forms Medlab's solution to intense pain suffered by cancer patients.

In late January NanaBis became the centrepiece of a $24 million oversubscribed share placement in the company.

At the time CEO Sean Hall said the support from investors would accelerate commercialisation of NanaBis and would put its production ahead of schedule by up to 18 months.

"The funds also help Medlab to accelerate its research and development programme of other areas in chronic diseases, including obesity, diabetes and depression," he said.

Medlab now aims to build confidence within the medical fraternity and encouraging doctors to feel comfortable prescribing the NanaBis product to their patients.

Read more from Medlab Clinical:

• Medlab raises $24m to support commercialisation of new cancer drug
• Sydney scientists get green light to sell cannabis products

MGC Pharmaceuticals

Head offices: UK, Slovenia, Perth
Official Listing date: 21 Dec 2006
Ticker: MXC
*Current share price: $0.10

As one of the few companies on this list to have its origins in resources and mining, MGC Global was born following a reverse takeover deal with former gold explorer Erin Resources.

In 2015, just a few months after the takeover, the company changed its name to MGC Pharmaceuticals and ventured into medicine, developing technology which could transport pharmaceuticals directly to the brain.

The MGC of today works with medical doctors across three basic tenets; dermatological, botanic and innovation. The company has since conducted research and partnered with doctors in several countries including Canada, Czech Republic, Israel and the UK.

Last year was a particularly important one for MGC when it came to research and business development.

The company kicked off 2017 with its 80 per cent acquisition of Czech medical cannabis company Panax Pharma and went on to secure it's a European Union medical cannabis license only a few months later.

More recently, MGC signed an agreement with global online cosmetics store Cult Beauty to sell 15 of its dermatological products through the platform.

MGC's products will hit Cult's e-shelves in February 2018.

Read more from MGC Pharmaceuticals:

• ASX listed medical cannabis company scores $40 million cosmetics agreement

MMJ Phytotech

Head offices: Western Australia, Vancouver
Official Listing date: 22 Jan 2015
Ticker: MMJ
*Current share price: $0.46

While MMJ Phytotech may be a home-grown venture, Canada is its main stomping ground.

The company aims to be one of the leading large-scale cannabis producers in the Canadian medical and recreational markets. As of August 2017, it holds one of only 52 licenses issued by Canada's government.

The past few weeks have been a tipping point for MMJ, after Federal Health Minister Greg Hunt gave the nod in early January for Aussie companies to begin exporting medical cannabis products.

MMJ's share price spiked on the Government's green light, and was also boosted by a the purchase of a $2 million stake in Toronto-based company Weed Me Inc.

Weed Me expects to secure its cultivation license within the next 120 days aims to tap into the estimated CD$8 billion medical and recreational market as a large-scale producer.

On 30 January 2018, MMJ invested CD$2.5 million to buy debenture unites in Canadian healthcare company Dosecann.

MMJ also currently holds the majority stake of Canada's Harvest One, a production company specialising in the health and medicine arena.

Queensland Bauxite

Head office: Sydney
Official Listing date: 14 Jan 2008
Ticker: QBL
*Current share price: $0.05

When it comes to any mining company, it's generally safe to bet that a 114 per cent share price increase over a single week means the company has hit 'pay dirt'.

However, in Queensland Bauxite's case, its stock more than doubled during a week in March 2017 when it announced its first foray into medical cannabis.

Queensland Bauxite bought out the majority stake in Medical Cannabis Limited (MCL), and has since made a continuous string of announcements which have attracted investors to the stock.

MCL is unique in that it has its own cannabis seed bank and has licenses to grow low THC cannabis for edible and nutritional purposes.

Toward the end of last year, MCL launched its VitaHemp range which is a series of superfood products with full Australian status.

It also entered an agreement with Algae.Tec, another company on this list, to help develop cannabinoid-based medicine for animals.

While no IPO for MCL has yet been formally set, director Andrew Kavasilas (pictured right) has said a prospectus is in the works. Its long-term goal is to become the country's leader in hemp foods.

Read more from Queensland Bauxite:

• Queensland Bauxite to develop 'game-changing' cannabis pill
• Cannabis companies join forces to create medicine for animals
• QBL share price surge after product launch announced
• MCL pioneers unique winter crop ahead of hemp seed legalisation

Roto-Gro International

Head office: Canada & Perth
Official Listing date: 10 Feb 2017
Ticker: RGI
*Current share price: $0.52

RotoGro uses an automated hydroponic system which was first designed and manufactured in Canada in 2006 to grow cannabis plants.

The auspiciously named 'Model 420' machine can grow up to 420 plants and is entirely self-contained, using a fraction of the electricity that other hydroponics units consume.

RotoGro International debuted on the ASX in 2015 in order to acquire licences for the RotoGro system in Australia and to enter a share sale agreement to buy out 80 per cent of RotoGro World Wide based in Canada.

During the first half of 2017-18, RotoGro's Canadian division bought out a new manufacturing and showroom facility which includes grow rooms and a data centre.

It also launched its growing management services which have been patent protected in the United States under the rotational hydroponics umbrella until 2023.

The parent company responsible for international marijuana player Gro3, Amfil Technologies, last year purchased 100 RotoGro hydroponic units and is currently designing a new warehouse which is projected to house up to 216 units.

RotoGro's short term plan is to form strategic partnerships or acquire companies in the fertigation space, ones which provide stand-alone solutions to greenhouse and traditional 'flat deck' cultivators of cannabis, as opposed to hydroponics.

Zelda Therapeutics

Head office: Perth
Official Listing date: 28 July 2003
Ticker: ZLD
*Current share price: $0.12

The story of Zelda Therapeutics began in California with cannabis company Aunt Zelda's and its founder, health sciences entrepreneur Dr Mara Gordon (pictured right). 

Gordon co-founded Aunt Zelda's in 2011 and spent years generating high-quality human data and scientific processes, which were then imbued in Zelda Therapeutics' Australian IPO in 2016.

Since then, Zelda Therapeutics has walked the same scientific track; employing medical cannabis clinicians and researchers to tackle conditions including autism and eczema, as well as several types of cancer.

The company recently received the green light from the Human Research Ethics Committee and Therapeutic Goods Committee to investigate the effects of medicinal cannabis on chronic insomnia patients, reportedly an Australian first.

In December 2017, Zelda Therapeutics revealed its partnership with the Children's Hospital of Philadelphia to study the effects of medical cannabis treatment in paediatric autism.

Earlier this year the company also made another significant stride with its entry into the American OTCQB Venture Market under the ticker ZLDAF.

Zelda continues to be internationally focused, conducting operations in countries including the United States, Spain and Chile.

Read more from Zelda Therapeutics:

• Cannabis company begins trading in the US
• Zelda Therapeutics to treat autistic kids in landmark study

*All share prices taken at the time of writing, 11:00am AEST on Thursday February 8, 2018.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia