New Developments

MC2U – The new Medical Cannabis Licensing Technology Company

Jayex has established MC2U Pty Ltd as its wholly-owned, special purpose subsidiary and the JHL Group’s licensor of the P2U® (Pharmacy Delivery 2 U) electronic script processing and "click & collect" and delivery systems, together with our patented BluePoint® remote pharmacy dispensing kiosk, for use and application in the prescribed sale, distribution and delivery by licensees of approved medical cannabis products in various countries as their local laws permit.

FIRST TECHNOLOGY LICENSING AND COMMERCIALISATION

MC2U is undertaking the first specific development and commercialisation in New Zealand of its P2U® script processing technology and BluePoint® remote dispensing technology, for the growing worldwide medical cannabis market.

The commercialisation will occur under a Master Technology (P2U & BluePoint) Licence Agreement (Licence Agreement) with MediCann NZ® Limited (MediCann) by which, subject to a number of conditions, MediCann will be granted the exclusive use and application of those technologies in New Zealand in connection with their proposed sale and distribution of medical cannabis products in line with the expected deregulation of medical cannabis in New Zealand.

WHO IS MEDICANN?

MediCann is an unlisted New Zealand public company, co-founded by Ross Smith, a New Zealand citizen and acknowledged global expert in medical cannabis. The Board of MediCann includes Dr Franz Strydon, a noted New Zealand medical practitioner and skin cancer specialist, as chairman, and Elizabeth Plant, a noted pharmacist in New Zealand, the former President of the NZ Pharmaceutical Society for 5 years (2008-2013) and a ministerial appointee to the NZ National Health IT Board (NHITB) for eight years (2008-2016). The MediCann Managing Director is Brendon Ogilvy, also a New Zealand citizen, and an experienced IT and sales executive with extensive international management experience.

MediCann has recently completed its first private capital raising in New Zealand and is now implementing its business plan, and preparing for its associated New Zealand medical cannabis licence application processes in anticipation of the expected legislative changes. Once the legislative changes occur as expected in New Zealand, the MediCann business plan will involve large scale commercial medical cannabis production in New Zealand, medical cannabis extraction, and production, sale and distribution in New Zealand of approved medical cannabis products.

WHAT IS P2U® AND HOW DOES IT WORK FOR MEDICAL CANNABIS?

P2U® means patients no longer have to visit a pharmacy to fill and receive their prescription medicines.  For medical cannabis patients, P2U® means improved access and convenience to approved medical cannabis products by “click & collect” or delivery services.

P2U® is a service that will act as an intermediary between pharmacists and medical cannabis patients.  Those patients wishing to use the P2U® service will pre-register.  Following a patient’s medical cannabis healthcare consultation, P2U® will electronically forward the prescription to the pharmacy nominated by the patient.  The pharmacist is then able to prepare the medical cannabis prescription for collection and delivery as desired by the patient.

Pharmacists will be provided with a patient’s contact details and preferences that were collected as part of the registration process.  A normal pharmacy interaction and consultation may take place face to face during the “click & collect” service by telephone for delivery services.

As part of the Licence Agreement, MC2U will, subject to conditions, undertake the further development required of the P2U® technology, in line with expected progressive regulatory developments in New Zealand, to prepare the P2U® technology for application to approved medical cannabis products in New Zealand.

WHAT IS BLUEPOINT® AND HOW DOES IT WORK FOR MEDICAL CANNABIS?

The BluePoint® remote dispensing kiosk is a wholly-owned technology developed by Jayex with extensive patent protection.

BluePoint® is a highly secure kiosk vending system for the “fail-safe” remote processing of prescriptions and remote dispensing of a potentially wide range of pharmaceutical products (see photo above).

MC2U propose to adapt that remote dispensing kiosk for specific application to a smaller range and limited number of approved medical cannabis products and approved medical cannabis delivery mediums (eg derma patches, suppositories etc).  MC2U expects the BluePoint® medical cannabis kiosk to be scalable to allow for an increasing range of approved cannabis products and to fit the regulated requirements of individual countries, such as New Zealand and Canada, or states, such as in the United States, where medical and other cannabis use is now or is expected to be permitted.

MC2U expects that the proposed BluePoint® medical cannabis kiosk will, when completed, allow pharmacists to safely dispense prescription medical cannabis and other scheduled (non-prescription) cannabis products from a secure terminal to patients using digital imaging and audio technology. 

The BluePoint® kiosk can be installed almost anywhere.  This means medical cannabis patients can obtain their prescribed medical cannabis products in defined locations where a BluePoint® kiosk is located (for example, a specialist medical cannabis clinic – known as a “Green Clinic”), without having to find and travel to a pharmacy which stocks medical cannabis products.

The BluePoint® kiosk will allow the medical cannabis patient to remotely, but privately, consult with a pharmacist and safely receive prescription medical cannabis medicines from the kiosk, and receive other healthcare information.

The focus of BluePoint® technology is to increase access to medicines, including medical cannabis, for patients and carers, whether that be driven by proximity, convenience of ease of access to medicines and professional advice.  A key feature of BluePoint® is to ensure the discretionary and/or mandatory pharmacy consultation capacity is readily available to users of the system.  Through the unique technology of the BluePoint® kiosk, medical cannabis patients and carers will have ready access to their pharmacist for advice and consultation on their medication and other health related questions.

Does MC2u plan to market the
technology to other markets?

MC2U has appointed Ross Smith, an acknowledged global expert in medical cannabis, to assist with the global commercialisation of the P2U® and BluePoint® technologies, as developed for approved medical cannabis use.
The Licence Agreement with MediCann in New Zealand is an important first step in preparing for the global commercialisation of those technologies for that purpose.

How does MC2u profit from the
technoloGy licensing?

The initial focus for MC2U under the Licence Agreement with MediCann in New Zealand will be on the development of the P2U® and BluePoint® technologies for specific use and application for the prescribed sale and distribution in New Zealand of approved medical cannabis products.

That development work will be undertaken, subject to specific conditions, in tandem with MediCann as the regulatory model in New Zealand for prescriptions, electronic processing of prescriptions, approved pharmacy delivery systems and remote dispensing of prescribed medical cannabis and non-prescribed cannabis products are progressively developed, and are expected to be approved, over the next 12-18 months.

As part of that development process, the commercial revenue model for MC2U will be finalised and will likely be based on licensing fees for the P2U® software and systems, and sale and/or leasing of the BluePoint® medical cannabis kiosk, together with revenue generated by charging participating pharmacists a fee per script.

When does the medicann licence
agreement start?

The binding Licence Agreement term sheet was signed on 6 July 2018.  There are number of conditions to be satisfied before the development program for P2U and BluePoint application to medical cannabis will formally commence.

However, the preparatory work to satisfy those conditions is now underway following the signing of the binding term sheet. 

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