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Publish Date : 27-Feb-2018

Developer and distributor of natural, evidence-based cosmetics health and natural medicines. Bod Australia Limited ("Bod" or the "Company") is pleased to advise that its partner, iX Biophama Limited (SGC42C), has been granted an exclusive patent for its WaferiX drug delivery method by the People's Republic of China (Patent No. ZL 2013800602813), subsequently providing Bod with patent protection for its finished sublingual cannabis wafer product which is to be tested in the Company's upcoming Phase I Clinical Trials.

As announced on 4 January 2017, Bod entered into an exclusive manufacturing and commercialisation agreement with the Singapore stock exchange, specialty pharmaceutical company, iX Biopharma Limited. Under the agreement Bod will supply iX Biopharma with a range of medicinal cannabis extracts including oils and raw materials. These extracts will be utilised by iX Biopharma for the development of a unique natural medicine product delivered on iX Biopharma's proprietary WaferiX technology.

In a momentous development for both companies, iX Biopharma has been granted a patent by the People's Republic of China which allows for the exclusive use and protection for it's WaferiX drug delivery technology in China. This patent adds to an additional 20 patents iX Biopharma have secured in countries including Australia, New Zealand, Canada and a range of countries in the European Union.

Due to the nature of the Bod's agreement with iX Biopharma, Bod Australia has the exclusive global rights to any finished product combining iX wafer technology and Linnea's phytocomplex cannabis extract and these patents ensure protection of all intellectual property rights on a global scale.

This timeously coincides with the Australian Governments plans to legalise the export of medicinal cannabis products, subject to federal approval in February and leaves Bod Australia incredibly well positioned to leverage an untapped and expanding medicinal cannabis market which is estimated to reach US$55.8 billion by 2025.

Further, the Company has made significant progress in the commencement of its Phase I Clinical Trials. Most recently contracts have been finalised with all clinical trial vendors, a Clinical Research Organisation (CRO) has been chosen to coordinate the trial, patient recruitment is being finalised through the Company's chosen Phase I trial centre in Victoria and data management, medicinal management and bio analysis procedures have all been finalised.

As well, the Company will be hosting its inaugural Advisory Board meeting this month involving key physicians and scientists which will include discussion on trial design and the investigation of additional collaborations for future trial developments and opportunities.

Bod Australia CEO Jo Patterson said: "this is an incredibly exciting development for the Company and our partners, iX Biopharma.

"Now that our intellectual property is protected in over 20 countries, including the People's Republic of China, Bod has an incredible opportunity to leverage the medicinal cannabis market, what is set to be worth over US$55 billion.

"We will work closely with our key Daigou relationships and other parties in the region to ensure that our finished cannabis wafer products can be made available in China as soon as regulatory approvals are granted.

"We will also look to further leverage iX Biopharma's patents into other lucrative market segments such as North America and Europe to add additional revenue streams to the Company.

"Board and Management have also made a number of pleasing developments in the commencement of Phase I Trials and we look forward to the commencement of these in the coming months. We look to update shareholders as these progress in the near term."

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