ASX Health Stocks: Cannabis play BOD to start clinical trial of CBD drug for COVID
Health & Biotech
Health & Biotech
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ASX health stocks (XHJ index) are up 0.75% today, compared to the ASX 200 which is up by 0.20%.
Medicinal cannabis company, Bod Australia (ASX:BOD), has received a nod from the UK regulator to start an open label clinical trial for MediCabilis – a drug that treats symptoms associated with the long term impact of SARS-CoV-2 or commonly referred to as long COVID.
The clinical trial will be undertaken in collaboration with UK’s leading independent scientific body on drugs, Drug Science UK.
A trial protocol has been finalised, and an ethics approval has also been secured from the Yorkshire Research Ethics Committee.
BOD says success in the clinic could unlock a large market opportunity for Bod to capitalise on, as more people suffer from the long lasting effects of contracting the COVID-19 disease.
Long-COVID refers to persistent or new symptoms that develop at least eight weeks following an initial COVID-19 infection, with a wide range of symptoms including shortness of breath, fatigue, worsening chest discomfort, and even insomnia.
Studies have shown that many of these symptoms could be treated with cannabis-based medicinal products, highlighting a significant opportunity for Bod.
“While there aren’t any existing treatments for long-COVID, our medicinal cannabis products have been used to treat and alleviate a number of conditions,” says Bod Australia CEO, Jo Patterson.
“We will utilise the data generated to gain a better understanding of whether MediCabilis can be used as a potential treatment, and how we can expedite further product commercialisation, which will underpin ongoing sales growth.”
Also in cannabis, Creso Pharma (ASX:CPH) has announced the next phase of its transition with the appointment of three new executives.
William Lay, previously Executive Vice President of Strategy, Origination & Operations, has been appointed as Group CEO of Creso.
Through his experience in Canada and the UK, Lay has previously managed over C$5 billion in cannabis M&A transactions, including leading the largest acquisition in the history of the cannabis sector between Tilray and Aphria, CPH said.
In his new role as CEO, Lay is expected to progress the Creso’s North American focused growth strategy, as well as the company’s proposed NASDAQ dual listing.
Famed cannabis and psychedelics entrepreneur, Bruce Linton, has been appointed as a Non-Executive Director in addition to his ongoing role as a strategic consultant for the company.
Micheline MacKay, a 22 year veteran of regulatory environments in pharmaceuticals, medical devices, and government regulated industries, has also been appointed as an executive director.
Regis Healthcare (ASX: REG) meanwhile, announced the appointment of Sally Freeman as an independent non-executive Director.
“With a deep understanding of finance, audit, risk, health and regulatory environments, Sally will make a significant contribution and is warmly welcomed to the Board. Sally will also chair the Audit, Risk and Compliance Committee,” says Regis’ Chairman, Mr Graham Hodges.
The aged care provider is continuing to manage through what remains a challenging operating environment, with a number of its residential aged care homes still impacted by the COVID-19 outbreak.