This non-equity based R&D funding is targeted at a AUD $50m-$100m budget to rapidly
advance the development of the Company’s proprietary new pharmaceutical and OTC
medicinal Products. Under this program, R&D expenditure is eligible for up to AUD 45 cents in the dollar
cash rebate from the Australian Federal Government. Ernst & Young has been engaged
to source $50m-$100m of funding from 3rd party investors and to manage the interface
between the R&D program, the Australian Tax Office and the Investors.
To qualify for the program, RxMM Health Ltd. needs to secure a partnership with an Australian based research partner such as a University. RxMM has retained the services of Budding Tech, an Australian consulting company specializing in connecting private companies with Universities to create research partnerships.
Budding Tech will be responsible for project management and will work closely with RxMM Health Ltd. and the University partners. To date BuddingTech has identified two Universities located in Melbourne that are highly interested in cannabis based research who are prepared to consummate a relationship with RxMM Health Ltd.
Malcom Leissring Ph.D will head the R&D program for RxMM. Dr. Leissring is an award winning biomedical researcher who is internationally recognized for his work on an insulin-degrading enzyme (IDE) The principle enzyme involved in the inactivation and clearance of insulin. Dr. Leissring is currently at the University of California Irvine (UCI) he is one of the Board of Advisors for RxMM. Dr. Leissring will identify RxMM’s research priorities, break them down into indication specific goals and direct the research process in conjunction with BuddingTech.
Combined with royalty and interest, investors would receive a return of approximately 20% per annum on their investment over a five-year period. The initial R&D program has commenced and will be geared up prior to the Company’s ASX listing and because this R&D expenditure is funded from external sources, there is no dilution to shareholder equity.
All the IP and products resulting from the R&D programs are owned by the Company.
These products will include:
- Development of a new range of cannabinoid based therapeutic, pharmaceutical products and formulations to address various conditions including management of neuropathic pain,hypertension, post-stroke neuroprotection, post chemotherapy patient conditions, multiple sclerosis, epilepsy and cancer.
- Cannabinoid based drug delivery methods.
- Cannabis plant strains to optimize therapeutic value in medications
- New hydroponic cultivation methods including nutrition solutions to optimize yield, scent, flavor, water content, texture and coloration.