Thonburi Healthcare Group (THG) is teaming up with partners to research, develop and produce cannabis and hemp products for medical purposes.
The collaboration is outlined in a memorandum of understanding (MoU) signed with Srinakharinwirot University (SWU), Mahidol University and Kasetsart University.
THG chairman Dr Boon Vanasin said the MoU is aimed at developing and carrying out research on medical products from cannabis and hemp extracts that are easy to use, efficient and suitable in the treatment of many diseases.
The aim is to create quality medical-grade cannabis products that are affordable to the Thai people, said Dr Boon.
He said the project is being carried out in response to government legislation that allows private individuals and companies to grow hemp for commercial purposes.
"SWU is a leading university in Thailand and is renowned for its academic excellence and teaching standards, so we will benefit from their expertise in medical cannabis," Dr Boon said.
SWU president Somchai Santiwatanakul said the project will take place under strict regulation by government agencies to ensure no harmful consequences or undue impacts on Thai society as cannabis is still listed as a Category 5 narcotic.
"SWU is looking forward to working with THG to help optimise the quality and safety of the medical cannabis products that will be available to patients. We are proud to be part of medical cannabis development in Thailand," he said.
Apart from cooperation on cannabis research, SWU also signed an agreement on academic cooperation with THG to upgrade the Heart Center at Panyananthaphikkhu Chonprathan Medical Center (PCMC), a teaching hospital under the direction of SWU, to be one of the best in its field.
"We have set a target to upgrade the Heart Center at PCMC to be a centre of excellence that can provide treatment procedures for patients with heart disease 24 hours a day. With THG's long experience in managing heart centres in both the public and private sectors, we believe we can achieve this goal by the third quarter of this year," Mr Somchai said.