Solution Group Berhad (SGB) has finalised formation of a new subsidiary, Solution Medicinals (SOLMED). The initiative is a joint venture with Bioarc Asia, a 100% Australian owned company by Bioarc, a medicinal cannabis company.
In line with the recent comments from the Malaysian Ministry of Health (MOH) that welcomes clinical trials on products containing Cannabis extract for medical use, SOLMED has been created to realise SGB ambitions in the Medicinal Cannabis space. This is in consonance with SGB diversification plan into biopharma. SOLMED is first looking into registering CBD-dominant medications. This is before exploring compounds and specific treatments around cohorts where patients can benefit from Medicinal Cannabis products as and when regulatory allows.
“The persisting worldwide pandemic and its after effects has resulted in increasing levels of physical health issues and mental distress to the broader population. As a consequence, there has been an increased emphasis on improved health, wellbeing, and self-care. This has had a positive impact on the Cannabis industry, as the world at large, which include our fellow Malaysians, demanding new avenues to improved health,” Dato’ Mohd Nazlee Kamal, Chief Executive Officer of SOLMED.
“With stronger collaboration, more research, and diverse and innovative products, we can hopefully expect the door to be opened, that will create a flourishing Cannabis sector in this region and Malaysia as an important player,” he added.
Bioarc is a Medicinal Cannabis company focused on cultivar development for improved agronomics and therapeutic qualities. Their objective is to bring the best possible outcomes from sowing seed to providing for patients.
“Bioarc sees this new venture with SGB as an important addition to what we are setting out to do globally. While Bioarc is focused on the agronomics and therapeutic qualities of Cannabis from a horticultural and plant sciences perspective, SOLMED will focus on the downstream development of these plant compounds in creating products that addresses the need for Cannabis medications in Malaysia and in the region. This will offer patients and practitioners an alternative pathway to the limited options currently presented for particular patient cohorts, especially focused on pain management and mental health, that would truly benefit from Cannabis based medications,” Mark Lorrigan, Chief Executive Officer of Bioarc remarked.
