CannPal Animal Therapeutics signs agreement to register doggie drug DermaCann in South Africa
Health & Biotech
Health & Biotech
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Special Report: Animal Health company CannPal Animal Therapeutics is moving forward with bringing its hemp-based canine atopic dermatitis therapy to market with a deal in South Africa.
CannPal Animal Therapeutics (ASX:CP1) announced on Monday that it is working with a local partner to register DermaCann with South Africa’s Department of Agriculture, Forest and Fisheries (DAFF) as a herbal supplement. The company expects quick approval given regulatory changes around CBD in South Africa, allowing CannPal to fast track its commercialisation goals.
There are an estimated 2.5 million medicalised dogs in South Africa, and a fifth of them suffer from atopic dermatitis or skin disease, CannPal says.
This makes it an ideal pilot regulatory market for launching DermaCann through veterinary channels alongside its Australia and New Zealand registrations.
The Sydney company also announced it had signed a deal with US-based Vetio Animal Health to begin manufacturing activities for commercialisation in the U.S early next year.
Certain states in America have introduced favourable legislation for hemp products containing hemp-derived cannabidiol, which has opened the door to the U.S too, CannPal said.
The global canine skin and dermatitis market alone is worth over $US1bn ($1.4bn) annually, and DermaCann will provide the market with a unique CBD-based, clinically validated product that can be used for healthy skin and immune function in dogs, CannPal said.
“We have had DermaCann in development for over three years now, and in that time we’ve built a robust product dossier with a novel formulation, compelling dataset and strong intellectual property,” CannPal managing director Layton Mills says.
“To our knowledge, this will be the only clinically validated oral CBD-derived pet nutraceutical for skin health in dogs, and we look forward to fast tracking the commercialisation for this exciting product in the coming year”
As previously reported, in July CannPal completed a study that tested DermaCann on 13 dogs suffering from atopic dermatitis.
Dogs that received the treatment experienced a 51 per cent reduction in inflammation and skin lesions, while the canines that received a placebo got slightly worse.
The work of three years of research, DermaCann is a combination of the cannabinoid CBD and other plant-based active ingredients in a proprietary patented formulation.
CannPal is also working on selling a new joint health supplement for pets on Amazon, under a new direct to consumer brand.
This article was developed in collaboration with CannPal Animal Therapeutics, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.