On May 1, new partners Canadian psychedelics developer PharmAla Biotech and Australian digital healthcare business Vitura Health (formerly Cronos Australia) announced the definitive establishment of a 50-50 joint venture Cortexa.
On May 20, the CEOs of both PharmAla and Vitura hosted a webinar about the new business.
The partners agreed on the fact that it is very tough for a company to thrive in a market it is unfamiliar with, which is the case for PharmAla facing the Australian market in general, and for Vitura regarding psychedelic compounds.
Vitura’s wholly-owned subsidiary CDA Health oversees both Burleigh Heads Cannabis (operator of prescriber, patient, pharmacy and supplier online platform CanView) and CDA Clinics (national telehealth consultations on medicinal cannabis through majority-owned Cannadoc Health among others.)
Cortexa is based in Aussie lands and, supported by Vitura in domestic distribution, will offer PharmAla’s MDMA and psilocybin products for clinical use within TGA-authorized physicians’ prescriptions (starting July 1) as well as academic or commercially approved trials.
Vitura’s Rodney Cocks said the company’s CanView distributes about 100,000 medicinal cannabis products monthly, “servicing tens …