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GEELONG’S Deakin University campus will host a medicinal cannabis research centre to respond to Australia’s growing appetite for the product.

Biotech company Medigrowth this month revealed it had struck a deal with the university to build a centre of excellence in the city.

The new hub will accelerate medicinal cannabis research and explore new areas where plant-based medicine can improve quality of life.

Therapeutic Goods Administration (TGA) data indicates medicinal cannabis use is growing rapidly in Australia.

The TGA reported 322,196 patients started treatment from the drug in 2022 – up from just 153 during the first full year of data in 2017.

Medigrowth chief executive officer and co-founder Adam Guskich said he was thrilled to announce the Geelong venture, which he said had already attracted interest from international and research bodies.

“Australia has the potential to become a major player in the world of medical cannabis from exporting to research to training, but right now we’re overwhelmingly reliant on overseas imports.

“About 78 per cent of our products are manufactured overseas, which raises costs for Australian patients and forces them to choose between their medicine and their budget.

“There is an opportunity for us to not only distribute Australian-made products to local patients, but to further develop our clinical work to extend our reach overseas.

“Smart companies will see the value of pursuing clinical trials and following the traditional pharmaceutical pathways towards TGA approvals and registered medicines.

“Ultimately this will help patients and differentiate Medigrowth with unique offerings.

“The industry is young in Australia, but ready to explode onto an international stage.”