Australian bio-pharmaceutical developer Zelda Therapeutics (ASX: ZLD) has now fully enrolled insomnia sufferers into clinical trials where the Company aims to use cannabis as a treatment for clinically diagnosed patients.
This set of trials will be completed in collaboration with the University of Western Australia (UWA) Centre for Sleep Science. The trials will aim to assess the impact of full-spectrum cannabis extract on sleep.
“Should the trial be successful, the Company will move to immediately commercialise this formulation in all major global medicinal cannabis markets,” said Zelda Managing Director, Dr Richard Hopkins.
With heightened global interest around cannabinoid-based therapeutics, Zelda have made significant progress through various other human clinical trials aiming to treat autism and opioid reduction.
Dosing for the Phase II insomnia trials is expected to be completed by December 2019 with preliminary results to then be released in February 2020.
Last month, Zelda also announced the planned merger with Ilera Therapeutics. The privately-held American-based cannabinoid science company will significantly increase the companies portfolio of cannabinoid-based therapeutic projects.
“Zelda’s proposed merger with US-based Ilera Therapeutics will expand our access to the world’s largest cannabis markets with approximately four million registered medicinal cannabis patients,” said Dr Hopkins.
“Zelda’s strategic partnership with European medicinal cannabis group HAPA Pharm BV also helps us access the world’s fastest growing markets outside the US.”
Following shareholder approval of the proposed merger, the new company will be re-named Zelira Therapeutics with the merger transaction to comprise solely of shares in the new company.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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