ASX Health Stocks: CBD gel could become cornerstone therapy for hand arthritis, says Avecho

CBD company Avecho announces positive Phase 2 results
Nyrada targets a Phase 1 clinical trial
Telix and Artrya expand overseas

Avecho releases postive Phase 2 results

Cannabis company Avecho (ASX:AVE) has announced positive results from the Phase IIa study of its CBD topical gel to treat pain associated with arthritis of the hand.

During four weeks of dosing, the study demonstrated statistically significant daily improvements in hand pain, hand functionality, grip strength, finger stiffness and anxiety.

Hand osteoarthritis is a common, painful, and irreversible condition that significantly impairs hand strength and function. Current treatment options are limited to symptom relief and preservation of hand function.

Oral administration of CBD in animal models have shown promise, but topical therapeutics are of particular interest in this disease due to their targeted application and avoidance of first-pass metabolism.

Despite being a small trial, Avecho had hoped the study could produce signs of a measurable impact on pain that would justify larger, placebo controlled studies.

“The results have surpassed our expectations, and clearly warrant further clinical exploration to tease out the specific effect of the CBD and an associated mechanism of action,” said the trial’s co-investigator, Professor Iain McGregor.

Avecho says that if further trials replicate the benefits seen in this initial trial, this CBD topical therapy could become a cornerstone therapy for the management of hand osteoarthritis.

Avecho share price today:

Nyrada’s new drug for brain injury

Nyrada (ASX:NYR) says its newest brain injury drug candidate, NYR-BI02, has shown excellent oral bioavailability and was selected to advance into the company’s Phase I first-in-human study.

NYR-BI02 is the result of improvements made to NYR-BI01, a drug used to treat concussion patients.

Currently, no FDA approved drug exists to treat secondary brain injury caused by TBI (traumatic brain injury) and stroke.

“The oral bioavailability of NYR-BI02 opens the door for its development as an oral treatment for concussion, which accounts for around 85% of all TBIs,” said Nyrada CEO, James Bonnar.

Nyrada anticipates commencing a Phase I first-in-human study in the second half of this year.

Nyrada share price today:

Overseas expansion for Telix and Artrya

Coronary artery disease focused company, Artrya (ASX:AYA), has opened a new US operation in Los Angeles.

The company will market its AI-based solution, Artrya Salix, a device capable of analysing cardiac CT scans to illustrate a combination of coronary artery disease biomarkers.

Meanwhile, Telix Pharma (ASX:TLX) rose 2% this morning after signing an agreement with Xiel for the distribution of Telix’s prostate cancer investigational imaging product, Illuccix, in the UK and Ireland.

Under the terms, Xiel will be the exclusive commercial distributor of Illuccix in both countries for a period of three years, replacing Telix’s previous agreement with Curium.