CannPal has identified an opportunity in the medical cannabis and health markets.
() holds a unique position in the market researching the benefits of medical cannabis for companion animals.
CannPal aims to provide veterinarians with clinically validated and standardised therapeutics to treat animals in a safe and ethical way.
The company has now successfully completed Phase 1A of the Pharmacokinetic and Safety Study for CPAT-01 with all endpoints being met.
CPAT-01 is the company’s lead pharmaceutical in development as a pain control for dogs.
The formulations used in the study were well tolerated, with no adverse events reported, and significant absorption of the actives observed in the drug plasma concentration analysis.
Layton Mills, managing director, commented:
"The success of CannPal’s first live phase study is a significant milestone for the company as it shows we are capable of setting and hitting research milestones to drive shareholder value."
Next steps for CannPal
The success of Phase 1A has allowed to company to move forward with preparation for Phase 1B of the study, with 48 dogs enrolled.
CannPal is in the process of finalising the protocol for this study which is expected to commence in the September quarter 2018.
Mills added: "We are looking forward to commencing Phase 1B of this study and expanding the market potential of CPAT-01 with research into cats, a significantly unmet need in the companion animal drug market."
Opportunity
Cats share in almost 30% of the veterinary pain market and there’s a significant unmet need for safe feline pain treatments.
There are only two NSAID’s (Non-steroidal anti-inflammatory drugs) approved to treat pain in cats in the United States, and none for long term use.
CannPal enters into manufacturing agreement
Last month the company entered into a manufacturing agreement with New Zealand based veterinary contract manufacturing organisation, Jaychem Industries Ltd.
Jaychem is a privately owned GMP (Good Manufacturing Processes) contract manufacturer of a comprehensive range of innovative products including veterinary health products for livestock and companion animals, and serves as an ideal partner to provide GMP-quality contract manufacturing services for the company’s lead nutraceutical product, DermaCann.
DermaCann is being developed as a regulatory approved novel oral formulation to target canine skin health, expected to be ready for commercialisation in 2019.