Cronos Australia will call Victoria home for its Asia-Pacific headquarters and establish a state-of-the art research and development centre, expecting to create around 120 new jobs.
Together, with support from the Andrews Labor Government and leveraging advanced intellectual property from Canada's The Cronos Group, Cronos Australia will establish a local cultivation, manufacturing and research facility in Victoria over the next five years.
The new facility will strengthen the quality and efficacy of cannabinoid-based products for both domestic and international patients as market opportunities grow.
Cronos Australia's investment comes in addition to a research and collaboration framework already established with Agriculture Victoria, building on Victoria's world-leading research and capabilities in genetic innovation of medicinal cannabis plants.
In hosting Cronos Australia's Asia-Pacific research and development centre alongside Spectrum Cannabis Australia and Cann Group's medicinal cannabis operations, Victoria is quickly cementing its position as the southern hemispheres hub for the cultivation and production of high quality medicinal cannabis products.
The Labor Government's Medical Cannabis Industry Development Plan sets out a strategy to grow Victoria's emerging medicinal cannabis industry into an established sector – and attracting Canada's first medicinal cannabis licenced producer to set up operations right here in Victoria is another major step towards that goal.
The strategy aims to have Victoria supplying half of Australia's medicinal cannabis by 2028, along with the creation of 500 jobs in Victoria.
Victoria was the first state in Australia to legalise access to medicinal cannabis for patients in exceptional circumstances in 2016.
As stated by Minister for Agriculture Jaclyn Symes
"Victoria is well and truly the home of medicinal cannabis cultivation in Australia and we're thrilled yet another global medicinal cannabis company will call Victoria home."
"We're so proud to be part of this ground-breaking industry that is creating hundreds of jobs and providing life-saving treatment to patients who need it most."
As stated by Cronos Australia CEO Rodney Cocks
"We look forward to working closely with the Victorian Government to help make Victoria the hub for the cultivation and production of high quality medicinal cannabis products."
