Impression Healthcare Limited (ASX:IHL) has appointed Dr Sud Agarwal, CEO and cofounder of Cannvalate, as chief medical officer and non-executive director of its Medical Advisory Board, as it looks to further its expertise and commercial strategies in the global medicinal cannabis market. Cannvalate are currently conducting clinical trials on behalf of IHL as part of the Swinburne-Cannvalate Medicinal Cannabis Research Collaboration, and also provide Australian cannabis market access to Impression for the distribution of their products via the Cannvalate network.
Media Release, Melbourne, Australia, Friday 26 July 2019 – Dr Sud Agarwal, CEO and cofounder of Cannvalate; Australia’s largestprivately held medicinal cannabis companywith expansive distribution and research capabilities has been appointed by Impression Healthcare (ASX:IHL) as chief medical officer and as a non-executive board director. Dr Agarwal’s appointment will support Impression Healthcare’s focus on streamlining current and future medicinal cannabis clinical trials along with product commercialisation strategies, including investor and stakeholder relations.
This follows on from March 2019 when Cannvalate signed a collaboration agreement with Impression Healthcare (ASX:IHL) that includes Cannvalate undertaking four separate, randomised clinical trials, on behalf of Impression, to progress medicinal cannabis products to open new markets with unique formulations, via the Swinburne-Cannvalate Medicinal Cannabis Research Collaboration, Australia’s first and only cannabis-only Contract Research Organisation.
Dr Sud Agarwal, CEO and cofounder, Cannvalate,said, “I’m thrilled to be joining the Impression Healthcare medical advisory board to help streamline clinical research for significant medical diseases at Cannvalate’s world class medicinal cannabis research unit at Swinburne University.
“Researching cannabinoid pharmacological solutions for obstructive sleep apnoea, gingivitus TMJ dysfunction and Traumatic Brain Injury is a particularly innovative focus as all four of these diseases have no effective therapies available today.
“This is an exciting extension of the existing relationship between our two companies.”
Impression Healthcare managing director and CEO Mr Joel Latham said, “We are delighted that Dr Agarwal has joined our team as an expert and early-mover in the medicinal cannabis field. His appointment is game-changing to the rapid commercialisation of key proprietary drugs being developed by IHL.
“Dr Agarwal is an internationally recognised key opinion leader in the clinical use of medicinal cannabis and adds significant medical, scientific and cannabis expertise to the position.
“His experience and knowledge are second-to-none and will help to perfect our strategy in the cannabis field whilst also opening the Company to global opportunities in this rapidly advancing sector”.
Cannvalate will also continue provide Australian cannabis market access to Impression for the distribution of their products via the Cannvalate network. Cannvalate is Australia’s largest network of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring healthcare professionals and 600 affiliated pharmacies spanning all states of Australia. Cannvalate prescriptions currently account for over 40% of the Australian market, which has seen the number of total monthly prescriptions increase by over 800% in the last twelve months.
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Available for Interview: Dr Sud Agarwal, CEO and Co Founder, Cannvalate
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Cannvalate is Australia’s largest business-to-businessservices company helping Licensed Producers of medicinal cannabis fast track their growth into the Australian market.
Their four key services include:
ACMA (Australian Cannabis Market Access) – Australia’s largest network of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring healthcare professionals and 600 affiliated pharmacies spanning all states of Australia. Cannvalate prescriptions currently account for over 40% of the Australian market, which has seen the number of total monthly prescriptions increase by over 800% in the last twelve months.
Medicinal Cannabis Research Collaboration– Working alongside Swinburne University of Technology investigating a range of targeted disease areas and aliments supporting Licenced Producers to validate their existing product range. MCRC also produces unique formulations, patents and orphan categories to compliment commercialisation strategy.
Expert Consulting – the Cannvalate team has an intimate understanding of the cannabis commercialisation journey and is currently working alongside a number of Licenced Producers to support them with their Medical, Scientific and Distribution capabilities.
Dr Sud Agarwal bio
Dr Sud Agarwal is the co-founder and chief executive officer of Cannvalate, Australia’s first medically backed, medicinal cannabis company, focused on providing a seamless entry for global licensed producers of medicinal cannabis into the Australian market.
He is a former medical director of the Cann Group (ASX:CAN) and has been an adviser to multiple listed/ unlisted companies and governmental bodies in the Medicinal Cannabisspace.
Dr Agarwal received his medical qualifications in the United Kingdom before immigrating to Australia in 2001. He has since commercialised, scaled and successfully exited three healthcare businesses and has a track record for seeing business opportunities at their earliest stage, and building high performing teams.
Dr Agarwal is also an experienced property developer who has completed 7 projects comprising residential, commercial and mixed-use projects. As the founder and director of Sterling Property Group, he has proven his ability to achieve excellent design and planning results, manage construction projects and deliver multi-faceted built form outcomes on time, under cost and with superior quality.
A rare combination of extensive medical experience, commercialisation success in several healthcare businesses and a proven track record in property development, positions Dr Agarwal perfectly to lead Cannvalate.
About Impression Healthcare Limited (ASX: IHL)
Impression Healthcare Limited is an innovative healthcare company that sells customised oral devices both direct-to-the-consumer and via the Company’s growing B2B preferred practitioner network of dentists. With its own laboratory in Victoria, Australia, Impression offers best-in-class teeth-protection and helps its customers to combat bruxism, snoring, mild-to-moderate sleep apnoea and teeth discolouration with custom-fitted oral devices.
Impression has broadened its commitment to disruption in the healthcare sector by progressing multiple opportunities in the field of medicinal cannabis. IHL has its licenses in place to import, export and distribute cannabis products. In March of 2019, Impression executed a binding collaboration with Cannvalate and Swinburne University of Technology to undertake four medicinal cannabis clinical trials. Cannvalate is Australia’s largest distributor of medicinal cannabis products.
IHL also has a collaboration agreement with leading US Cannabinoid therapeutics Company, AXIM Biotechnologies Incorporated; a license agreement with Resolution Chemicals for the production and distribution of Dronabinol in the USA, Canada, Australia and New Zealand; and also intends to distribute medicinal cannabis oils through the Cannvalate network of cannabis medicine prescribers throughout Australia.