Impression Healthcare’s (ASX:IHL) punt on cannabis clinical trials might start delivering revenue this year, with an aggressive clinical trial program set to start in two to three months.
The company has struck a deal with private startup cannabis clinic-cum-contract research organisation Cannvalate, to run four clinical trials on a series of products Impression has either licensed or signed MoUs over.
The deal includes distribution of the products once they come through trials via CannVaLate’s network of 1000 doctors and 600 pharmacies.
CEO Joel Latham says they want to get a product on the market this year.
He told Stockhead he expects a sleep apnoea trial for synthetic cannabis drug dronabinol to start within two months and a trialed product on the market within six months.
He said they hope the other three trials can be run in conjunction with each other and they’re currently in talks with their Canadian supplier, which they signed an MoU with in December last year, for cannabidiol (CBD) oil for one.
Impression made $408,954 in the six months to December 31, all from the legacy mouthguard business — Mr Latham is expecting a “record” quarter. The full year loss worsened to $1.3m and the company had cash of $321,886.
Impression, perhaps best known for its sporting subsidiary Gameday Mouthguards, began investigating the cannabis market last year, while Cannvalate has stoked investor interest by foreshadowing a big $65 million initial public offering this year.
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