RNS - Drug Supply Agreement Signed pt 114 Nov 2023 07:21
Drug Supply Agreement Signed
Today 07:00
RNS Number : 2934T
Ananda Developments PLC
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 9th 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.
...
Sign In
Follow the stocks
