ASX-listed MGC Pharmaceuticals has teamed up with the University of Notre Dame in Perth to commence a new clinical trial for its “CogniCann” phytocannabinoid-derived medicine, after the first bulk shipment of the medicine arrived in Australia.
The company said CogniCann was developed with the specific aim to treat symptoms associated with dementia and Alzheimer’s disease.
The trial will involve a total of 50 patients with dementia or Alzheimer’s disease over the age of 65 at various aged care facilities across Perth. The specific aim is to evaluate the potential behavioural benefits of CogniCann on those patients as the company said the number of patients with various behavioural difficulties is growing globally.
MGC Pharma said that this Phase two clinical trial was looking to confirm the clinical effectiveness of the CogniCann drug and determine the therapeutic individual dose response. Results of the trial are expected in the third quarter of 2021.
The company said that the CogniCann medicine is the only dementia targeting phytocannabinoid-derived product available for prescription in Australia and it is accessible through its distributors, Cannvalate and Health House International by prescription under Australia’s Special Access Scheme.
MGC Pharma’s research partner in the clinical trial, the University of Notre Dame, will be led by Dr Amanda Timler. Management said the research team at Notre Dame was recently rated at world-standards for its health and medical research during Australia’s 2018 Excellence in Research Assessments.
Co-founder and Managing Director of MGC Pharma, Roby Zomer said: "I am proud to see the commencement of this Phase II clinical trial in partnership with UNDA. The Trial will provide the healthcare community with more evidence on the performance and the benefits of phytocannabinoid-derived medicines, in particular for patients suffering from dementia and Alzheimer's disease, and we hope to see positive results in the near future.”
“If successful, CogniCann® has the potential to positively impact the lives of patients and their carers around the world, and contribute to a novel avenue of clinical research and development for contending with the challenges of the effects of dementia and Alzheimer’s disease.”
MGC is a reasonable way ahead of the majority of the medicinal cannabis hopefuls listed on the ASX. The company already has income from existing developed products as it continues its considerable research and development work.
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
