Ananda Developments PLC Drug Supply Agreement Signed (2934T)
November 14 2023 - 2:00AM
UK Regulatory
TIDMANA
RNS Number : 2934T
Ananda Developments PLC
14 November 2023
14 November 2023
ANANDA DEVELOPMENTS PLC
("Ananda", the "Company" or the "Group")
Drug Supply Agreement Signed
Ananda Developments plc (AQSE: ANA), a company whose ambition is
to be a leading provider of cannabinoid-based medicines for the
treatment of chronic, complex inflammatory pain conditions, is
pleased to announce that its wholly owned subsidiary MRX Medical
Limited ("MRX") has signed a Drug Supply Agreement ("DSA") with the
University of Edinburgh ("UofE") and the Lothian Health Board
("LHB").
Highlights
-- As announced on 9 (th) March 2023 , UofE and LHB are leading
a Randomised Controlled Trial ("RCT") on the use of cannabidiol
("CBD") versus placebo in the treatment of chemotherapy induced
peripheral neuropathic pain ("CIPN").
-- MRX's patent pending MRX1 cannabidiol oil formulation will be
used as the Investigative Medicinal Product ("IMP") in the trial.
MRX is supplying the MRX1 CBD formulation and matched placebo.
-- MRX has been granted a licence over all arising (generated
from the trial) Intellectual Property ("IP") for internal research
and development purposes, as well as an option to licence the
arising IP for all commercial purposes. MRX will maintain full
ownership of all IP as relates to the IMP and Placebo.
Ananda's CEO, Melissa Sturgess commented: "The drug supply
agreement provides the legal framework for the provision of MRX1,
our patent pending cannabinoid medicine, to the CIPN randomised
controlled trial. Importantly it also confirms that MRX retains
full IP ownership of the medicine and provides Ananda with a
pathway to utilise the IP from the trial for commercial purposes.
This will be a crucial part of Ananda's value if the trial is
successful and the medicine is able to be commercialised via the
NHS."
The RCT, funded by a GBP1.25m non-dilutive grant, is being led
by Professor Marie Fallon a leading researcher at UofE. Professor
Fallon is the St Columba's Hospice Chair of Palliative Medicine and
Honorary Consultant in Palliative Care and has 256 publications and
over 10,000 citations to her name. The trial will be a double-blind
crossover trial, located at Western General Hospital with a
92--patient recruitment plan.
CIPN is a common and debilitating side effect of chemotherapy
with approximately 160,000 new cases per year in the UK, with a
prevalence 3 months after a chemotherapy treatment of 60% . There
are no preventative treatments for CIPN, and symptomatic management
is commonly ineffective. The CIPN global market was valued at
US$1bn in 2021 and is estimated to reach US$1.5bn in 2030 and given
most treatments are ineffective, the Directors believe that this
figure does not accurately reflect the true market size.
Rationale for the research:
1. CIPN is a common condition and distressing to patients with
no preventative options and no effective treatment to date.
2. Self-medication with cannabis is common, but clinical use
lacks empirical evidence on efficacy and safety.
3. This research addresses calls from NICE and IASP
(International Association for the Study of Pain) for
cannabis-based medicine research. Following their reviews of the
evidence, this research aligns with their recommendations for the
choice of CBD and methodology (IASP) in CBD trials.
4. In addition, the trials are following guidelines for
assessments in CIPN trials and have added mechanistic
assessments.
5. There is strong preclinical evidence to match CIPN and CBD.
To stay abreast of the latest developments at Ananda, we
encourage you to follow our social media channels which are:
-- Instagram: https://instagram.com/anandadevelopments?igshid=YmMyMTA2M2Y=
-- LinkedIn : https://www.linkedin.com/company/anadevelopments/
-- Twitter : https://twitter.com/anandaplc?s=21&t=9yeIC_xYCfzgDn7j26sfuA
-- Investor Meet Company: https://www.investormeetcompany.com/ananda-developments-plc/register-investor
-Ends-
The Directors of the Company accept responsibility for the
contents of this announcement.
ANANDA DEVELOPMENTS PLC +44 (0)7463 686 497
ir@anandadevelopments.com
Chief Executive Officer
Melissa Sturgess
Finance Director
Jeremy Sturgess-Smith
SP ANGEL CORPORATE FINANCE LLP +44 (0)20 3470 0470
Corporate Finance
Richard Morrison
Harry Davies-Ball
Corporate Broking
Abigail Wayne
Rob Rees
About Ananda Developments
Ananda is an AQSE-listed company whose ambition is to be a
leading provider of cannabinoid-based medicines for the treatment
of complex, chronic inflammatory pain conditions.
For more information, please visit:
https://anandadevelopments.com/
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END
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