JSE-listed healthcare group Labat Africa has acquired a 70% interest in science, technology and research group BioData to expand and further develop its integrated cannabis business in South Africa.
The company is focused on the cannabis industry and was initially set up as a holistic healing enterprise incorporating cannabinoid healing.
The company is well positioned to start with formalised clinical trials focused on pain management and insomnia, Labat notes.
BioData is based in East London and is headed by Dr Shiksha Gallow. She is registered with the Health Professions Council of South Africa (HPCSA) in Clinical Pathology as a medical scientist, and holds various degrees in public health medicines, as well as in business.
The company is supported by a team of researchers, doctors and scientists, both locally and abroad, who will be working with local academic institutions to further Gallow’s clinical investigations.
“We are pleased to welcome a group of leading experts in the cannabis industry who are committed to ensuring South Africa takes its rightful place on the world stage in the field of cannabis innovation and scientific excellence,” says Labat Africa CEO Brian Van Rooyen.
Gallow will assist with ensuring that the Labat Africa facilities retain its accreditation, certification and complies with the regulatory requirements, quality standards as well as legislation.
The research conducted by Gallow on cannabinoids, ayurvedic medicine and homeopathic medicines will be a significant enhancement to Labat Africa’s nutraceutical and pharmaceutical offerings, the company says.
“With the growing international trend of opiate addiction and its impact on overdoses, ill-health and crime, countries worldwide are searching desperately for safer alternatives to treat severe and mild pain. South Africa is currently deciding if it should up-schedule codeine-based products owing to the significant abuse and the impact on healthcare costs.
Labat Africa will certainly use this opportunity to invest in cannabis alkaloid based clinical trials, hence this acquisition,” comments the company.
This acquisition also provides Labat Africa with additional medical and pharmaceutical infrastructure in support of its healthcare strategy.
Gallow and her team will also provide expertise and value to Labat Africa’s endeavours to develop the company’s drug master files for the selected alkaloid active ingredients.