Ananda Developments - Endometriosis Trial Drug Supply Agreement Signed
Announcement provided by
Ananda Developments Plc · ANA28/02/2024 07:00
28 February 2024
ANANDA DEVELOPMENTS PLC
("Ananda", the "Company" or the "Group")
Endometriosis Trial Drug Supply Agreement Signed
Ananda Developments plc (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, is pleased to announce that its wholly owned subsidiary MRX Medical Limited ("MRX") has signed a Drug Supply Agreement ("DSA") with the University of
Highlights
· As announced on 9th March 2023, UOE and NHS Lothian plan to lead a Randomised Controlled Trial ("RCT") on the use of CBD versus placebo in the treatment of endometriosis.
· MRX's patent pending MRX1 CBD oil formulation will be used as the Investigative Medicinal Product ("IMP") in the trial. MRX will supply the MRX1 CBD formulation and matched placebo.
· MRX has been granted a licence over all arising (generated from the trial) Intellectual Property ("IP") for internal research and development purposes, as well as an option to licence the arising IP for all commercial purposes, subject to funder's approval. MRX will maintain full ownership of all IP as relates to the IMP and Placebo.
Ananda's CEO, Melissa Sturgess commented: "The drug supply agreement provides the legal framework for the provision of MRX1, our patent pending cannabinoid medicine, to the endometriosis randomised controlled trial. Importantly it also confirms that MRX retains full IP ownership of the medicine."
The RCT, funded by a
Endometriosis is a condition where tissue similar to the lining of the uterus grows outside the uterus. It can cause severe pain in the pelvis and make it harder to get pregnant and currently the only treatments are surgery, hormonal treatment or pain killers. Globally, 10% of women are thought to suffer from Endometriosis and the market was valued at
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-Ends-
The Directors of the Company accept responsibility for the contents of this announcement.
For more information please contact:
InvestorHub Engage with us directly at Ananda Developments Investor Hub
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Sign up at https://investors.anandadevelopments.com/s/a66906
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ANANDA DEVELOPMENTS PLC Chief Executive Officer Melissa Sturgess Executive Director Jeremy Sturgess-Smith |
+44 (0)7463 686 497 ir@anandadevelopments.com |
SP ANGEL CORPORATE FINANCE LLP Corporate Finance Richard Morrison Harry Davies-Ball |
+44 (0)20 3470 0470 |
Corporate Broking Abigail Wayne Rob Rees |
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Yellow Jersey PR Charles Goodwin Soraya Jackson |
+44 (0)20 3004 9512
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About Ananda Developments
Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based
medicines for the treatment of complex, chronic inflammatory pain conditions.
For further information on the Company visit https://anandadevelopments.com/ or sign up at https://investors.anandadevelopments.com/s/a66906.
https://investors.anandadevelopments.com/link/WrvK7P
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