Ananda Developments Finance Director Jeremy Sturgess-Smith joined Steve Darling from Proactive to share some of the key milestones achieved by the company in its interim results for February 1, 2024, to July 31, 2024. During this period, Ananda has advanced its patent-pending MRX1 CBD formulation in two fully funded Phase II trials for chemotherapy-induced nerve pain and endometriosis.
Sturgess-Smith also noted the selection of Ananda's MRX2 and MRX2T CBD and CBD + THC formulations for two groundbreaking Phase III trials. These will be the world's first double-blind, randomized controlled trials (RCTs) to examine the combined use of CBD and THC for epilepsy, specifically challenging-to-treat cases in both children and adults. Conducted across multiple NHS sites, these trials aim to enroll 500 patients over 18 months to test the effects of CBD, a CBD/THC combination, and a placebo.
Following the reporting period, Ananda's MRX1 CBD formulation will undergo a Phase I pharmacokinetic assessment. Additionally, preclinical studies on MRX1 have shown positive results for heart fibrosis treatment potential, part of the company’s efforts to establish a robust preclinical pipeline. To support these initiatives, Ananda completed a successful capital raise and announced the formation of a Scientific Advisory Board led by Professor Clive Page.