Ananda Developments Plc (AQSE:ANA)'s quarterly report points to significant progress for the drug development group, which is focused on creating the next generation of pain management therapies.
During the reporting period, Ananda concentrated on preparing submissions to the ethics board at the Medicines and Healthcare products Regulatory Agency (MHRA) for its phase II clinical trials of MRX-1, a cannabis-derived treatment, and its lead asset.
These trials are investigating treatments for chemotherapy-induced peripheral neuropathy (CIPN) and endometriosis. Securing ethics approval is a critical step before patient dosing can begin.
In addition to its clinical trial progress, Ananda announced positive results from a pre-clinical study conducted in partnership with Robert Gordon University. The study evaluated MRX1 in a mouse model of heart failure with preserved ejection fraction (HFpEF).
The research indicated the drug has significant cardioprotective effects, suggesting its potential as a treatment for patients with HFpEF. The study's findings were presented in June at the 9th Federation of European Pharmacological Societies (EPHAR) conference in Athens, and the data has been included in Ananda's International patent application for MRX1.
The company has also joined the Cannabinoid Research and Development Group. This initiative, co-chaired by Professor Trevor Jones and George Freeman MP, aims to establish the UK as a global leader in cannabinoid science by integrating universities, research institutions, investors, businesses, and the NHS to advance the understanding of cannabis and its derivatives.
Ananda's annual report can be found here.