Australian life sciences and health products company Bioxyne Limited (BXN) has made a groundbreaking announcement. Its fully-owned subsidiary, Breathe Life Sciences (BLS), has successfully produced and delivered Australia’s first pharmaceutical-grade cannabis edibles. These new gummies are certified by the Therapeutic Goods Administration (TGA) with Good Manufacturing Practice (GMP) standards. This achievement marks a significant leap forward in the domestic production and accessibility of medicinal marijuana products within Australia.
Sam Watson, the founder and CEO of BLS and Managing Director of BXN, emphasized the significance of this milestone: “BLS is the first Australian manufacturer to complete a commercial production run of pharmaceutical-grade GMP-certified THC gummies.” Watson further highlighted their commitment to supplying these pharmaceutical products to both domestic and international markets, leveraging existing relationships and supply channels.
In July 2024, BLS received deposits on purchase orders amounting to approximately AU$2 million ($1.35 million) for their cannabis gummies, containing both cannabidiol (CBD) and/or delta-9-tetrahydrocannabinol (THC). This represents the first commercial sale of Australian-made edible cannabis products. Additionally, BLS has signed a two-year manufacturing and supply agreement with one of Australia’s largest cannabis companies, projected to generate a minimum of AU$28 million from the production of these edibles.
To meet the burgeoning market demand for edible products, BLS is expanding its gummy manufacturing capacity from 2 million single doses per month to 6 million per month. This strategic move underscores the company’s commitment to keeping pace with the growing market for cannabis edibles.
Bioxyne emphasized that estimates project the market for prescription cannabis edibles in Australia to experience substantial growth in the coming years. The market, currently estimated at approximately 1% of the ~AU$500 million per year Australian medical cannabis market in 2023, is projected to exceed 20% by 2030, representing a potential AU$150 million per year opportunity.
Jason Stephens, general manager of BLS Australia, commented on this significant milestone, stating, “This is a significant milestone for Australian pharmaceutical manufacturing and the medical cannabis industry as a whole.” He further highlighted Australia’s emergence as a global medical cannabis hub, with BLS playing a pivotal role in this transformation. The company’s primary focus is on building strong relationships with its business customers and delivering high-quality GMP-certified manufacturing services.
Bioxyne is also actively involved in the supply of alternative pharmaceutical goods such as psilocybin and MDMA to authorized prescribers and clinical trials within both domestic and international markets. This further underscores the company’s commitment to innovation and its role in advancing the field of alternative pharmaceuticals.
