There are ASX small caps addressing brain problems and stocks seeking to test cannabis for medicinal purposes and Impression Healthcare (ASX:IHL) is now doing both.

This morning the company announced next quarter it would begin a clinical trial of its novel cannabinoid formula against brain trauma.

Specifically, it could lessen the effects of traumatic brain injury (TBI) by protecting the brain against injury mechanisms causing head trauma.

TBI is a key risk factor of Chronic Traumatic Encephalopathy (CTE). CTE is a long term condition that happens after years of regular brain trauma.

“By treating concussion in the days following those injuries, IHL will have effectively created a CTE prevention plan that lessens the effects of TBI in the short term while lessening the patient’s risk of developing CTE,” said Chief Medical Officer Sud Agarwal.

Impression will be targeting Australian MMA fighters and is aiming to recruit 50 who have sustained moderate to severe concussion.

But of course, boxing is far from the only sport where concussion is an issue – the company named the AFL & NFL as two other leagues where CTE is widespread.

Critically, Impression says that its products are designed to satisfy WADA and ASADA specifications.

Impression shares gained 11 per cent this morning. While shares saw a spectacular run in the third quarter of last year, they retreated in recent weeks due to the coronavirus spooking investors.

In other ASX cannabis news today:

THC Global Group (ASX:THC) told shareholders it commenced production and would be supplying cannabis medicines to 6,000 patients from next quarter. It will supply directly to pharmacies, clinics and hospitals under the Canndeo brand. Shares rose 16 per cent this morning.

MGC Pharmaceuticals (ASX:MXC) amended its Brazilian distribution agreement with ONIX. The distribution period is for at least seven years and ONIX has agreed to buy a minimum of 20,000 units in the first year. The order is worth at least $1.65m, and $107,000 is payable right now. From the second year, ONIX will buy a minimum of 50,000 units each year, worth $4.1m.

Creso Pharma (ASX:CPH) meanwhile is entering Scandinavia. It signed a commercial term sheet with Norwegian pharmaceutical distributor Farmagon. The first phase of the roll out will involve Creso’s cannaQIX 50 and cannaQIX 10 products.

At Stockhead we tell it like it is. While MGC Pharmaceuticals and Creso Pharma are Stockhead advertisers, they did not sponsor this article.

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