What Cann Group does

Cann Group Limited (ASX: CAN) is an Australian medicinal cannabis company founded in 2014 and listed on the Australian Securities Exchange. It develops, cultivates and manufactures TGA-GMP-licensed medicinal cannabis products — dried flower, oil products, active pharmaceutical ingredients (APIs) and extracts — and supplies them via a B2B model to healthcare providers, channel partners and approved export markets. The core product portfolio is anchored on the proprietary Satipharm capsule delivery system (patent-protected) and the Botanitech branded product range.

The company's operations are built around two purpose-built facilities: the A$120 million Mildura large-scale cultivation and GMP manufacturing site in the Sunraysia region (currently ~8 tonnes annualised, scaling to a 12.5-tonne target in FY25 across up to 34,000 sqm of planned cultivation space) and the R&D facility at La Trobe University in Bundoora, which houses physical containment level-2 certified greenhouses and laboratories for genetics, phenotyping/chemotyping and tissue culture. Cultivation is performed in micro climate-controlled glasshouses using a proprietary practice called Flowering Canopy Architecture Manipulation (FCAM). R&D is conducted in collaboration with La Trobe University and Agriculture Victoria to develop proprietary resilient, high-yielding cultivars.

Revenue is generated primarily from one-off B2B product sales to domestic healthcare providers and export customers (initial shipments to Germany from April 2023), supplemented by Australian Government R&D Tax Incentive rebates. The company is not yet profitable — FY23 total revenue was A$21.68 million (A$13.78 million from product sales, up 115% YoY) against a A$33.79 million operating loss after tax — and has financed operations through a mix of equity raises (A$4.46M rights offer, A$2M and A$0.75M convertible securities facilities), debt (A$15.6M NAB working capital facility, A$49.4M NAB construction facility with deferred repayments), asset divestitures (Southern facility to SatiVite; equipment to Biortica Agrimed), and R&D rebates. Cann holds the first Australian Cannabis Research Licence and first Medicinal Cannabis Cultivation Licence ever issued, plus a TGA A1 (highest) manufacturing compliance rating.

Name

Cann Group

Legal name

Cann Group Limited

Website

https://canngrouplimited.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Cann Group Limited (ASX: CAN) is an Australian B2B medicinal cannabis producer that cultivates, GMP-manufactures and supplies dried flower, oils, APIs and extracts — including the proprietary Satipharm capsule range and Botanitech brand — to Australian healthcare providers and approved export markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Mount Waverley

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Medicinal Cannabis Product Sales: Sale of dried flower, oil products, active pharmaceutical ingredients and extracts to customers in Australia and export markets. The company operates a B2B model supplying other businesses and healthcare providers.
2. R&D Tax Incentive Rebates: Australian Government R&D Tax Incentive program provides tax offset for eligible R&D activities

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Cann Group develops, cultivates, and manufactures medicinal cannabis products including dried flower, oil products, active pharmaceutical ingredients (APIs), and extracts, supplying healthcare providers and pharmaceutical businesses in Australia and approved export markets. The company operates TGA GMP-licensed manufacturing facilities and an R&D facility for proprietary cultivar and cannabinoid delivery system development.

Product overview

Cann Group is a B2B medicinal cannabis company offering a portfolio of products and manufacturing capabilities. The core product offerings include dried flower products, oil products, and APIs/extracts supplied to customers in Australia and export markets. The company operates two key facilities: the Mildura GMP manufacturing facility for large-scale cultivation and production, and the R&D Bundoora facility for genetics development and breeding programs. Branded products include the proprietary Satipharm capsule delivery system for cannabinoids and Botanitech, a diverse affordable product range. The company also provides contract manufacturing and supply services to partners like Levin Health.

Differentiator

Problem solved

Functional benefit

Brands

• Satipharm: Proprietary Satipharm delivery system for cannabinoids including patent-protected capsule technology
• Botanitech

Products and services

• Dried flower products Premium inhalable-grade medicinal cannabis dried flowers supplied in jars, produced at the GMP-compliant Mildura facility for healthcare providers and pharmaceutical customers in Australia and approved export markets.
• Oil products Medicinal cannabis oil formulations supplied to customers, including products supplied under supply agreements such as the Levin Health arrangement.
• Active Pharmaceutical Ingredients (APIs) and extracts Bulk medicinal cannabis APIs and extracts supplied to pharmaceutical manufacturers and partners in Australia and export markets.
• Satipharm CBD capsules Cann Group's branded CBD capsules delivered via the proprietary patent-protected Satipharm capsule delivery system for cannabinoid administration.

Quantifiable outcome

• 41% increase in yield over previous record at Mildura facility in October harvests
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• La Trobe UniversitycoreStrategic or Co-development PartnerR&D collaboration at Bundoora facility for plant breeding programs, tissue culture methods, and development of proprietary high-yielding cultivars.
• Agriculture VictoriacoreStrategic or Co-development PartnerStrategic partnership for developing cross-bred genetics based on world-leading phenotyping process. New cultivars developed and transferred from R&D facility to Mildura for commercial cropping.
• Levin HealthcoreChannel Partner/ Reseller/ DistributorSupply agreement for cannabis flower products and oil products. Original agreement June 2023 for A$880,000 of oil products, extended September 2023 for A$1.58 million additional flower products. Total supply commitment of A$2.29 million flower products and A$0.85 million oil products for period July-December 2023.
• Biortica Agrimed LtdminorOthersSale agreement for range of equipment surplus to Cann's needs. Sale price of AU$1,700,000 (cash) or AU$1,900,000 (equity/cash combination). Deposits of A$200,000 by April 2024, final balance A$1,500,000 at settlement by June 2024.
• SatiViteminorChannel Partner/ Reseller/ DistributorAcquired Southern facility land and building for A$3.1 million and business assets at the facility for A$1.9 million. Settlement completed March 2023.
• Australian Medicinal Cannabis Association (AMCA)coreStrategic or Co-development PartnerCann Group's Cultivation Manager Angus Murray offered seat on advisory group for Australian Cannabis Cultivators (ACC), the sub-association for cultivators. First meeting held January 2023. Intends to support local growers through collaboration, education and advocacy.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Little Green Pharma: ASX-listed Australian medicinal cannabis cultivator and manufacturer with a similar B2B and patient-channel model. Directly comparable in product mix (dried flower, oils), GMP manufacturing footprint, and target prescriber customer base.
• ECS Botanics: ASX-listed Australian medicinal cannabis and hemp food company with cultivation, manufacturing, and white-label supply offerings. Comparable as a small-to-mid cap Australian producer targeting similar wholesale and patient channels.
• Bod Australia: ASX-listed company distributing medicinal cannabis and CBD wellness products in Australia. Comparable business model of supplying healthcare professionals and competing in the same domestic medicinal cannabis market.
• AusCann Group Holdings: Australian medicinal cannabis company developing, cultivating, and supplying cannabinoid-based pharmaceutical products. Comparable in operating model targeting Australian patients and prescribers with GMP-produced cannabis medicines.
• Althea Group: Australian medicinal cannabis company (formerly ASX-listed) focused on patient and B2B supply of cannabis products. Comparable in go-to-market through healthcare professionals and product portfolio overlap with Cann.
• Cronos Australia: ASX-listed Australian medicinal cannabis distributor and product company linked to the global Cronos Group. Comparable in distributing and supplying cannabis products to Australian patients and prescribers.
• MGC Pharmaceuticals: ASX-listed medicinal cannabis company with cultivation and product development across phytocannabinoid and psychedelic medicines. Comparable as a small-cap Australian plant-derived therapeutics player with similar B2B supply dynamics.

Emerging players

• Incannex Healthcare: ASX-listed clinical-stage cannabinoid and psychedelic medicine developer. Partial overlap with Cann on cannabinoid pharmaceutical development, but more focused on clinical research and drug development than cultivation and B2B supply.

Broad incumbents

• Jazz Pharmaceuticals (GW Pharmaceuticals): Owner of GW Pharma's Epidiolex, a global leader in cannabinoid-derived prescription medicines. Comparable as a benchmark for what a clinically validated, GMP-manufactured cannabinoid pharmaceutical business can become.
• Aurora Cannabis: Global, large-scale Canadian medicinal and consumer cannabis producer with international operations. Comparable as a competitor in the global medicinal cannabis supply market Cann is targeting with its German export shipments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cann_group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cann Group