SYDNEY — Bioxyne Ltd. said Monday it has received about £850,000 ($1.7 million AUD) in funding commitments from South of Scotland Enterprise to establish a medicinal cannabis manufacturing and distribution facility in the Scottish Borders.
The package includes a five-year £500,000 loan and a grant of £348,250 to support the fit-out of the site, which will mirror the company’s Australian operations. Bioxyne’s subsidiary, Breathe Life Sciences UK Ltd., plans to complete licensing applications with the UK Medicines and Healthcare products Regulatory Agency and the Home Office in 2026.
The UK is Europe’s second-largest medicinal cannabis market after Germany, with patients spending an average of £3,261 annually in 2024, compared with £1,342 in Germany. Bioxyne Chief Executive Sam Watson said the new facility will help meet rising demand and expand the company’s international footprint.
Jane Morrison-Ross, chief executive of South of Scotland Enterprise, said the investment highlights the region’s growing appeal to innovative life sciences companies.
Bioxyne manufactures and distributes pharmaceutical products including medicinal cannabis, MDMA and psilocybin, with operations in Australia, Japan, the UK and Europe.