ASX Health Stocks: Little Green Pharma closing in on first over-the-counter CBD product in Australia
Health & Biotech
Health & Biotech
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Cannabis company Little Green Pharma (ASX:LGP) has secured Human Research Ethics Approval for its Phase III SleepWell Study.
The results of this clinical trial will support LGP’s proposed Australian Schedule 3 CBD product registration for stress reduction and improved quality of sleep.
Schedule 3 (Pharmacist Only) products can be sold to Australian consumers over-the-counter without prescription.
There are currently no OTC CBD products available in the Australian market.
Right now, CBD products cannot legally be bought in Australia without a prescription from a doctor because these products are considered Prescription Medicines.
And according to various studies, insomnia is a huge market.
The estimated global market for insomnia is $5.4 billion by 2023, with the Pharmacist Only CBD market in Australia expected to reach $250 million and over 2 million consumers at market maturity.
The condition is known to be triggered by stressful events as well as genetic factors.
EMVision (ASX:EMV) has commenced a clinical trial to show that EMV’s portable brain scanner can provide crucial insights to enable clinicians to make critical decisions earlier at the point-of-care.
Stage 1 of the trial commences with 30 healthy volunteers, followed by Stage 2 with up to 150 Acute Stroke/Stroke mimic patients.
The company has also completed user training at Liverpool Hospital, receiving the administrative “green light” activation.
Both enrolment and scanning are now underway at the Hospital.
“The training process was smooth and easy across individuals from a range of clinical fields of expertise,” said EMVision CEO, Dr Ron Weinberger.
“And it was completed in less than a day and the team is excited to undertake the clinical trial.”
Back in October, EMV announced that it was about to commence a multi-centre clinical trial following an ethics committee approval.
EM Vision is seeking to commercialise a potentially cost effective, portable, medical imaging device using electromagnetic microwave imaging for diagnosis and monitoring of stroke.
The technology is the result of over 10 years of development by researchers at the University of Queensland.