First it would be remiss of me not to shout out to the wonderful Staff I employ.
June is normally the “madness” month as companies do all things to finalise the financial year; for us, that was no exception, but factor in opening and relocation to our second Sydney site.
Yes as “Murphy “ had it, in the June madness we opened our second facility, some 2,000 square metres of office and distribution space.
Why you ask?
We simply outgrew our primary site. The nutraceutical expansion is taking off in such a manner that space has moved from critical to super-critical.
For sure, we were on top of one another at our primary site, we worked with several off-site distribution facilities and getting creative with storage space became part of the daily routine– trust me when I say frustrating and challenging at best.
Today Medlab operates out of 2 Sydney facilities:
Laboratory, Research, Regulatory and Clinical have about 800 square metres at McCauley St in Alexandria, and Corporate, Operations, Finance, Logistics and Commercial have about 2,000 square metres at Lord St in Botany.
Add this to our international presence, and we are growing.
Whilst I will not dive into speculative EOFY results – that will follow soon enough; I am very pleased with the performance of the company. As a group we have:
Engaged, and launched into Australian Banner Pharmacies
Engaged larger Multi-Nationals for trade deals
Developed truly innovative products, with patents
Discovered, published and developed several unique drug potential candidates
Medlab cannabis-based Medicine (NanoCelleTM CBD:THC – in market, currently under investigation for Cancer pain) – to which (in my opinion) is excelling at all fronts
NRGBioticTM (in market, specialised probiotic currently under investigation for Depression treatment) – which (again in my opinion) shaping up to offer a very compelling story.
It has been an incredible year for us; a year that has provided significant opportunities in the near future – thank you to all involved.