Solution Group Berhad has finalised the formation of a new subsidiary called Solution Medicinals Sdn Bhd or SOLMED. In line with its mission to realise ambitions in the Medicinal Cannabis space, SOLMED has recently inked a partnership agreement with Bioarc Asia Sdn. Bhd., a 100% Australian-owned company by Bioarc Limited, a prominent Medicinal Cannabis company.
This is in consonance with Solution Group’s progressive diversification plan into the biopharma industry. Last year, one of the company’s subsidiaries created a good manufacturing procedures (GMP) facility to formulate, fill and finish the CanSino COVID-19 vaccine in Malaysia.
In accordance with the recent comments from the Malaysian Ministry of Health (MOH) that welcomes clinical trials on products containing Cannabis extract for medical use, SOLMED is first looking into registering CBD-dominant medications, before exploring compounds and specific treatments around cohorts where patients can benefit from Medicinal Cannabis products as and when regulatory allows.
Dato’ Mohd Nazlee Kamal, Chief Executive Officer of SOLMED said, “The persisting worldwide pandemic and it’s after effects have 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, well-being, and self-care. This has positively impacted the Cannabis industry, as the world at large, which includes our fellow Malaysians, is demanding new avenues to improved health”.
“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 further explained.
SOLMED’s business partner and collaborator, Bioarc Asia are 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 seeds to providing for patients.
Back Row Left To Right; Lim Chiou Kim – COO, Solution Group, Mark Lorrigan – CEO of Bioarc, Jay Padasian –
Director of Bioarc and Dato’ Mohd. Nazlee Kamal – CEO, SOLMED
Front Row Left to Right; Michael Boyd – Executive Chairman Bioarc and Barry Lim – Group CEO, Solution
Mark Lorrigan, Chief Executive Officer of Bioarc, explained, “Bioarc is excited at the possibilities presented in both Malaysia and South East Asia. We see 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 address 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”.
In November this year, Khairy Jamaluddin, the Health Minister of Malaysia was reported as saying that the use of Medical Cannabis is permissible in Malaysia as it does not violate the Dangerous Drugs Act 1952, Poisons Act 1952 or the Sale of Drugs Act 1952 and that products containing Cannabis can be imported and used in Malaysia so long as it adhered to existing laws. In a written parliamentary reply to Muar MP Syed Saddiq Syed Abdul Rahman, Khairy said the products would have to be registered with the local Drug Control Authority (DCA).