ASX Health Stocks: Weed stock Epsilon sees growing demand for cannabis, gets licence renewal in Australia
Health & Biotech
Health & Biotech
Cannabis stock Epsilon Healthcare (ASX:EPN) surged 25% this morning after announcing that the Medicinal Cannabis Permit issued to its subsidiary, THC Pharma, has been successfully renewed.
In addition, the Australian Office of Drug Control has granted the company increased manufacturing quantities to meet the growing demand.
Epsilon says it has seen a ramp-up in activities, which reflects the changing needs of the industry and client demand.
The company owns a number of medicinal cannabis assets including the largest GMP cannabis manufacturing facility in the Southern Hemisphere (the Southport, Queensland Facility).
The company also has a strategic partnership with The Valens Company (NASDAQ: VLNS), a leading cannabis consumer products company with significant expertise in manufacturing cannabinoid based products, to operate and manage the facility.
“As we continue to grow, we remain committed to delivering our clients and patients with the highest quality medicines possible, and the exceptional level of care that they come to expect from us, especially given the new TGA reforms to apply from July,” said EPN’s release today.
Biotron (ASX:BIT) says the company’s Phase 2 COVID-19 trial for lead antiviral drug BIT225 has extended to include a second trial site in Thailand.
This follows receipt of approval from the Khon Kaen University Ethics Committee for Human Research.
The Phase 2 trial is a double blind, placebo-controlled clinical trial (BIT225-012) to determine if seven days of treatment with BIT225 commenced within three days of onset of COVID-19 symptoms results in the reduction of SARS-CoV-2 blood viral load.
The trial will also look for favourable changes in viral, inflammatory and immune activation markers, as well as improvement in clinical symptoms of COVID-19.
The BIT225 drug already has an established safety profile in human trials, and animal studies have shown it to have both antiviral and immune modulatory activity against SARS-CoV-2.
The company believes it has the potential to be an important first-in-class drug for COVID-19 treatment.
“There remains a need for new, effective oral drugs to treat infection and prevent severe disease,” said Biotron CEO, Dr Michelle Miller.
“We are now focused on enrolment and dosing with the aim of completing the trial as quickly as possible.”