Ananda Developments PLC (AQSE:ANA) reported significant progress in the first half of the year, as preparations advanced for two fully funded phase II clinical trials.
These studies will evaluate the company’s patent-pending MRX1 cannabidiol (CBD) formulation for its effectiveness in treating chemotherapy-induced nerve pain and endometriosis.
They represent an important step forward in Ananda’s goal to harness CBD for managing challenging medical conditions.
During this period, Ananda announced that its MRX2 and MRX2T formulations, containing CBD and a combination of CBD with tetrahydrocannabinol (THC), were selected for two groundbreaking phase III evaluations funded by the National Institute for Health and Care Research (NIHR) and NHS England.
This formal clinical deep dive will be the first globally to assess CBD and THC together in treating epilepsy, specifically targeting drug-resistant early-onset and genetic generalised epilepsies.
Over the next 18 months, researchers plan to enrol 500 patients across multiple NHS sites, assigning each participant a treatment of either CBD, CBD with THC, or a placebo provided by Ananda.
The trial will explore the treatments’ impacts on seizure frequency, behaviour, sleep, quality of life, stress, and anxiety.
Another key development for Ananda is the upcoming phase I study to assess the pharmacokinetics of MRX1, an important step in understanding how the body absorbs, distributes, and processes the formulation.
Additionally, positive pre-clinical results for MRX1’s potential in treating heart fibrosis with preserved ejection fraction were reported, marking a promising avenue for further research.
For the six months ended July 31, the company posted a £1.2 million loss as it invested in the preparations for a heavy clinical schedule.