Impression Healthcare will collaborate with Cannvalate to conduct four clinical trials and to distribute cannabinoid medicines across Cannvalate’s network of 1,000 prescribing doctors and 600 pharmacies.
Disruptive healthcare company Impression Healthcare (ASX: IHL) has teamed up with Australia’s largest network of medical cannabis clinics, Cannvalate, to distribute cannabinoid (CBD) medicines and undertake four clinical trials, including a “first of its kind” study on the effects of CBD oil on traumatic brain injury.
The company emerged from a trading halt this morning to announce the execution of a binding agreement, under which Cannvalate will purchase (on a wholesale basis) and distribute Impression’s licenced medical cannabis products throughout its huge network of more than 1,000 prescribing doctors and 600 pharmacies.
Cannvalate will also fund the majority of the expenditure associated with four proposed medical cannabis clinical trials.
One of the trials has been described as “one of the first of its kind”, focusing on the use of synthetic CBD oil to improve the radiological signs of traumatic brain injury and neuro-cognitive function in Australian Rules and rugby players following concussion.
The other three trials will study dronabinol for obstructive sleep apnoea; CBD chewing gum for severe gum disease; and CBD oil for temporomandibulor joint disease (TMJ).
Cannvalate chief executive officer and co-founder Dr Sud Agarwal described the clinical trials as potentially “game-changing” since all four of these diseases have “no existing therapies available today”.
The trials are also expected to leverage Impression’s existing intellectual property and profile within both the dental industry and sporting communities.
Parallel to its emergence in the medical cannabis sector, the company has a range of dental health products and a keen involvement in Australia’s sporting industry, with its Gameday Mouthguards becoming an official licensee of the Australian Football League (AFL) back in August 2018.
In addition, the collaboration paves the way for Impression to advance talks with a Canadian cannabis oil producer for the potential distribution of its oils through Cannvalate’s network.
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