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 …

Full story available on Benzinga.com

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