What does Medlab Clinical do?
() is a cannabis drug developer and nutraceutical products manufacturer based in Australia.
The seven-year-old New South Wales company is targeting chronic disease management with its pipeline.
Medlab has nutraceutical and pharmaceutical divisions and hopes to improve choices for people with chronic diseases, offering medical cannabis pharmaceutical solutions for people in need of help with pain management.
It is researching and formulating novel bio-therapeutics in five areas: obesity and metabolic disorders including type 2 diabetes; chronic kidney disease; depression; musculoskeletal muscle loss associated with ageing; and non-opioid pain management.
More than 11 million people, or half of Australia’s population, had a chronic disease in 2014-15.
Who leads Medlab Clinical?
The company is led by its founder, managing director & CEO Sean Hall.
Hall is a doctor and finance professional who has undertaken higher degree research into simplifying clinical trial progress.
The commercialisation specialist has more than 21 years’ experience in industry, holding a number of senior executive positions over the past two decades.
Hall was previously chief executive officer of FIT BioCeuticals and served 14.5 years with the leading practitioner-referred company which he sold to Blackmores in mid-2012.
How it's doing
revealed in December that it had raised $5mln in an oversubscribed placement, with new shares expected to be allotted on 23 December.
Hall said the funds help the company address short-term goals as it prepares for Phase 3 research of its NanaBis™ drug candidate program.
In its nutraceuticals wing, Medlab has also struck distribution agreements with nutritional supplement manufacturer Cultech Ltd in UK and American Nutritional Corp Inc in US.
The deals will see Medlab products enter both the medical and consumer markets through healthcare practitioners, pharmacies and health food stores.
The UK deal focused on two Medlab products:
ORSBiotic™: Part of the existing Medlab Australian and US nutraceutical ranges, a patented probiotic rehydration formulation; and
NanoCBD™: A new cannabinoid product utilising Magnesium and CBD from the newly manufactured NanoCBD™ product - the product utilises Medlab’s patented delivery platform, NanoCelle™.
In November, Medlab also said it was progressing ahead of expectations with a Phase 2 Depression Trial using a unique self-branded, in pharmacy formulation, NRGBiotic™ from its Nutraceuticals range.
The company reported a 273% year-on-year revenue increase, in its November 2019 annual general meeting presentation, and a 45% September-on-September-quarter revenue increase.