Impression Healthcare (ASX: IHL) has partnered with Cannvalate to distribute products and conduct four clinical trials in Australia.
Cannvalate will whole-sale purchase and distribute Impression Healthcare’s products in Australia, feeding into their doctor/patient clinic network.
The research agreement between the two organisations is unique. The trials are observational, rather than full blown RCTs, but will be sufficient to justify access under the Special Access Scheme or Authorised Prescriber approvals, and be a ‘proof of concept’ before launching into more rigorous trials.
Impression will fork out $80k per trial, with the remaining costs covered by Cannvalate. In return, they have set share options which will vest upon certain milestones. Essentially, Cannvalate gets paid if they succeed and if Impression Healthcare’s share price increases. All IP remains with IHL.
The four trials are:
- Synthetic THC for Obstructive Sleep Apnoea Syndrome
- Synthetic CBD for improvement of radiological signs of traumatic brain injury and neuro-cognitive fundtion in Australian rules and rugby players following concussion
- CBD cheweing gym for severe periodontitis (gum disease)
- CBD for temporomandibular joint dysfunction
The research will be conducted through Swinburne University.
CEO of Impression Healthcare, Joel Latham said, “Partnering with Cannvalate provides Impression the capability to open new markets in the medicinal cannabis sector in Australia and abroad. It is an endorsement of our existing products and project from a group that has strong medical credentials and financial backing. We are delighted to have partnered with them and look forward to collaboratively working together to grow sales and oversee clinical research of the highest calibre.”
Dr Sud Agarwal, CEO and Co-founder of Cannvalate said, “We are delighted to be working with Impression Health to perform game0changing clinical research for significant medical diseases at our World-class Medicinal Cannabis research unit.”