Andrew Forrest is the latest billionaire to enter the medicinal cannabis arena with a $5 million share placement by his family’s investment arm Tattarang into Perth-based health technology company Emyria.
Andrew Forrest’s family investment arm Tattarang has put $5 million behind a Perth company in the medicinal cannabis industry.Emyria was listed on the ASX last year, just before Australia was plunged into the global COVID-19 pandemic, and has been progressing with trials of a synthetic cannabinoid targeting mental health which it hopes to have registered domestically and in the American market.
Emyria managing director Michael Winlo said the company has treated more than 400 people through its cannabinoid program and was preparing for an MDMA trial next year to help treat post-traumatic stress disorder. “In light of the evidence and the growing recognition of major mental health disorders and the need for more treatment options. I think there will be a very persuasive argument in front of the TGA,” he said.Tattarang chief investment officer John Hartman said the investment by Emyria into “industry-leading” data collection would allow it to innovate faster than other companies and bring online new treatments quickly and cost-effectively.
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