Oz Medicann Group (OMG), a leading Australian biotech company, has announced a strategic partnership with NeoCannBio (NCB), a biotech company based in South Korea, to accelerate the commercialisation of clinically validated cannabinoid-based therapeutics across Asia.
OMG is leading the way in research, development and commercialisation of innovative treatment therapies for a range of high clinical burden diseases such as sleep disorders, endometriosis, arthritis, and skin fungal infections. Partnering with leading researchers at the National Institute of Complementary Medicine and The Medical Institute of Research in NZ, OMG is strengthening the clinical and scientific evidence base underpinning emerging therapeutic products.
“Globally, an estimated 33% of adults experience sleep disorders, millions live with arthritis, and approximately one in seven women are affected by endometriosis. These are significant, often under-addressed conditions with a substantial impact on quality of life. OMG’s product pipeline is focused on expanding access to new, evidence-based treatment options for these patient populations. Through strategic partnerships with leading global biotechnology companies, we aim to accelerate development and broaden access to these therapies. Today represents the first of what we expect will be many such partnerships,” said Rohit Bhuta, Group CEO of OMG.
Under the partnership, OMG will work with NeoCannBio to utilise Australian clinical evidence and execute parallel clinical programs to accelerate regulatory discussions across agreed Asian territories, supporting more efficient market entry. In addition, NeoCannBio will receive exclusive distribution rights for products emerging from OMG’s clinical trial programs in agreed Asian territories, subject to regulatory approvals and performance milestones.
“With five rigorously designed clinical trials currently underway in Australia, we are generating high-quality, clinically relevant data that can be leveraged beyond a single market,” said John Leith, Founder of Oz Medicann Group. “This partnership reflects our commitment to enabling other regions to responsibly access that evidence, reduce duplication, and ultimately support more timely patient access to clinically validated medicinal products.”
Highlighting the value of this evidence base from a regional perspective, Dr Ham, CEO of NeoCannBio, added:
“This partnership allows us to work alongside an Australian company with strong clinical credibility and a clear long-term vision,” said Dr Ham, CEO of NeoCannBio. “By leveraging Australian clinical data, we can responsibly accelerate access to scientifically validated therapies for patients across Asia.”
Looking to the broader strategic implications of the collaboration, Jeong Kook Kim, President of NeoCannBio, said:
“We see this collaboration as a long-term strategic alignment that combines Australian clinical excellence with our regional development and commercial capabilities. Together, we aim to deliver meaningful healthcare solutions across Asia while maintaining the highest standards of science, governance, and regulatory compliance.”
The NSW Government, through Investment NSW, has supported Oz Medicann Group’s expansion into the Korean market by providing targeted one-to-one export and market-entry assistance. This support included tailored business introductions, ongoing engagement, and facilitation of OMG’s initial connection with NeoCannBio during a Korean biotech delegation visit in 2023.
The collaboration delivers broader benefits for New South Wales and Australia, reinforcing the region’s position as a global hub for clinical trials, life sciences innovation, and regulated health technologies, while attracting long-term cross-border collaboration and investment.
Notably, the last cannabinoid-based medicine to achieve global regulatory approval, Epidyolex, was approved in 2019 for Dravet syndrome and has since achieved annual global revenues exceeding USD $1 billion, underscoring the scale of opportunity for clinically validated, regulator-approved cannabinoid therapeutics.
The agreement reflects a shared commitment to science-led development, regulatory excellence, and responsible international healthcare innovation, with Australian clinical research serving as the foundation for global patient impact.
OMG is actively exploring similar strategic partnerships in other jurisdictions, as they build a scalable, international pathway anchored in Australian science.
Media and stakeholder enquiries:
Rohit Bhuta
Group CEO – Oz Medicann Group
📧 rohitb@ozmedicann.com | +61 406 169 146
Jeong Kook Kim
President – NeoCannBio
📧 jland123@neocannbio.com | +82 10 4871 2665