ASX health stocks: AusCann (ASX:AC8) up 5pc after asking for approval of cannabis-based canine drug
Health & Biotech
Health & Biotech
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The ASX Healthcare index rose by 0.45% this morning, compared with the broader index which fell by 0.80%, helped by medicinal cannabis company AusCann (ASX:AC8). It rose by 5% in morning trading.
AusCann announced it has submitted the first module to the Australian Pesticides and Veterinary Medicines Association (APVMA), to commence the submission of its dossier of DermaCann.
DermaCann is the company’s lead drug to treat inflammatory and boost immune levels in dogs with dermatological conditions.
Subject to approval, DermaCann would be the first and only APVMA-approved, cannabinoid-based veterinary product to be legally supplied via prescription through Australian veterinarians.
Osprey announced expansion into the Canadian market with a Medical Device License (MDL) approval, as well as an exclusive distribution agreement with GE Healthcare Canada.
The distribution agreement will allow the company to sell its DyeVert System throughout Canada, after receiving an approval from the MDL.
The DyeVert system is said to reduce the amount of contrast dye used in heart imaging procedures, and has been proven to reduce CI-AKI (contrast-induced acute kidney injury) by 55% without compromising image quality.
Telix has provided an update on Zircon, a Phase 3 study of TLX250-CDx, an investigational product for the imaging of clear cell renal cancer with PET (Positron Emission Tomography).
The study, which is currently being conducted at 34 sites globally, has exceeded 50% recruitment despite significantly reduced recruitment over the last 12 months due to the pandemic.
The company expects the trial to complete recruitment in the next 4-5 months, subject to ongoing pandemic conditions.
TLX250-CDx has been granted FDA Breakthrough Therapy designation in the US, which could potentially grant it an expedited review process.
Medical imaging specialist, EMVision, said the assembly of its 1st Gen device is on target and due to be completed next month.
The 1st Gen device is the company’s first model intended for commercialisation, and is targeted for use in ICUs, stroke and neurology wards, angiogram suites and emergency departments.
In contrast to other imaging technology, EMV says its imaging uses the interaction of the brain tissue with both the electric field and the magnetic fields that emanate from the EMV device’s antennae.
These interactions provide a wealth of data which can be leveraged using EMVision’s various signal processing algorithms.
Another medical imaging specialis, Mach7, fell even after delivering a 95% sales order growth for FY21 to $25.6 million.
Its annual recurring revenue (ARR) run rate also came in strong at $13.4 million, which is up by 105% year on year.
The company has just come out of a strong first half, with $10.9 million sales orders underpinned by a high demand for its eUnity Viewer device.
The eUnity device allows clinicians fast access to diagnostic images from disparate or propriety systems, without the need for dedicated workstations.
The medicinal cannabis company is on a trading halt pending an announcement. IHL share price closed at 28c on Monday.