As of 2022, Australia is witnessing nearly 400,000 individuals grappling with dementia. Dementia is the second leading cause of death in Australia, and if the trend continues, it might just claim the top spot as the leading cause. But that’s not all – two out of three people with dementia are not hiding away in some secluded corner; they are living right here, amongst us, in our community.
While dementia currently has no cure (some medications are available only to alleviate symptoms and improve quality of life, but not to cure), it is estimated that without medical breakthroughs, this number will surpass 800,000 by 2058. Some early studies have suggested that dementia can be “alleviated” and “prevented” by some foods such as olive oil, though a direct role has not been scientifically proven, hence the market still keeps its doors wide open for any possible groundbreaking discoveries.
It appears that Living Cell Technologies (ASX: LCT) is racing ahead in the market by offering a less-oily option, recently filing a provisional patent application over a cannabinoid-based combination drug candidate, known as AI-116, to treat dementia.
AI-116 includes cannabidiol (‘CBD’) and another off-patent pharmaceutical ingredient, and its use in the treatment of dementia. LCT is currently in advanced discussions with a major Australian university over a research agreement to perform pre-clinical studies, including comparing the efficacy of AI-116 to existing registered drugs used to treat dementia. Though so, the exact mechanism of how AI-116 will treat dementia, or whether it can both cure and prevent the condition remains undisclosed by LCT.
When a provisional patent application is filed, it secures the invention’s priority date ahead of competitors. Furthermore, LCT stated that this filing not only provides legal protection for AI-116, but also initiates a second research and development (R&D) project for the Company.
Dementia is not a specific disease: Dementia is an umbrella term used to describe a group of cognitive disorders characterised by memory loss, impaired thinking, and difficulty with everyday activities that include memory, reasoning, language, coordination, mood, and behaviour. Alzheimer’s disease is the most common form of dementia, accounting for 60-80% of cases. In addition to Alzheimer’s, other frequent causes of dementia comprise vascular dementia, lewy body dementia, frontotemporal dementia, Parkinson’s disease, and Huntington’s disease.
While the global dementia drugs market size was valued at more than US$8.7 billion in 2021 and is projected to reach US$19.7 billion by 2023, the primary focus of dementia treatment in recent decades has remained on managing symptoms and slowing the progression of the diseases underlying dementia. At the moment, most research to develop effective treatments for dementia, and eventually to find a cure has been focused on Alzheimer’s disease, the most common form of dementia.
Living Cell Technologies is a biotech company listed on both the ASX and OTCQB (US), specialising in discovery and development of new treatments for neurological conditions like Alzheimer’s disease, vascular dementia, lewy body dementia, frontotemporal dementia, Parkinson’s disease, and Huntington’s disease. The company is based in Australia and New Zealand.
The Company plans to change its name to Algorae Pharmaceuticals Limited pending shareholder approval in the upcoming extraordinary meeting (EGM) planned for September 2023. The new business model is planned to involve Artificial Intelligence (AI) to support all drug discovery and development efforts.
The new name better reflects and represents the overall business of the Company as it works to expand into new research and development (R&D) programs in addition to the NTCELL research project, which involves tissue transplantation from pigs bred in remote sub-Antarctic Auckland Islands to treat Parkinson’s disease, currently approaching third clinical trial.
Clara is a Business Reporter for The Sentiment.
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