Ananda Pharma Plc (AQSE:ANA) has secured ethics approval to begin its first human trial of MRX1, a key milestone for the company’s therapeutic pipeline.
Finance director Jeremy Sturgess-Smith noted this was the first ethics approval of its kind for any Ananda trial, with recruitment expected to begin shortly in Australia. “It’s very, very exciting to have that ethics approval in the bag,” he said.
Looking ahead, the company also expects ethics approvals for studies into chemotherapy-induced peripheral neuropathy and endometriosis in the next six months.
Sturgess-Smith also discussed the appointment of Chris Tovey as a strategic advisor. Tovey brings significant experience from his time as COO at GW Pharmaceuticals and later Jazz Pharmaceuticals.
He was closely involved in the development and regulatory journey of Epidiolex, a cannabidiol-based drug projected to generate $1 billion in 2025.
According to Sturgess-Smith, “He’s going to bring all that experience to Ananda,” helping guide the company through its regulatory path and corporate development.
Tovey’s appointment is expected to support optimal study design and regulatory dialogue, as well as strengthen Ananda’s corporate strategy.
Proactive: Hello Jeremy, very good to speak with you. You've announced the appointment of Chris Tovey as a strategic advisor to Ananda. Tell us more about Tovey and the value he brings to the company.
Jeremy Sturgess-Smith: Hi Stephen, good to be here as always. So Chris Tovey was the COO of GW Pharmaceuticals from around 2012 through to its sale to Jazz Pharmaceuticals for 7.2 billion USD in 2021. He stayed at Jazz for a while after that as COO.
Why he’s such an exciting pick-up for Ananda is because GW was the first company to ever have a naturally derived cannabidiol medicine approved for full prescription use in the UK, Europe, and the US. That drug, Epidiolex, is now on track to generate 1 billion USD in sales in 2025.
He played a key role, both corporately and operationally, in GW’s path to that point. He was heavily involved in fundraising — I believe they raised over 1 billion USD during his tenure — and he also guided the company through regulatory processes. So we’re looking forward to working with him.
He's going to bring all that experience to Ananda. We’re trying to follow in the footsteps that GW laid down on the path to regulatory-approved cannabinoid medicines. So we’re very excited and pleased that he’s agreed to work with us.
Proactive: Jeremy, do you see Tovey helping to expedite your programs and get them to market sooner?
Jeremy Sturgess-Smith: In terms of expediting the actual programs themselves, I don’t think that’s where he’ll have a direct impact. However, where I think he’ll be really key is keeping us laser-focused on the things within our control — conversations with regulators, and ensuring that any follow-up studies are designed optimally for regulatory success.
That’s where I see him adding real value. Also, from a corporate development standpoint, making sure we’re building the team appropriately. He’s a great resource, and he also understands the quality standards in this space, having been part of the team that listed GW on Nasdaq.
Proactive: Of course you're making good progress with your program. Last week you announced that you secured ethics approval to begin the first human trial of MRX1 — an exciting step forward.
Jeremy Sturgess-Smith: Yes, and it’s very exciting to have that ethics approval in the bag. It’s the first time we’ve had an approval like this for any of our trials. We’re hoping and expecting the same for our chemotherapy-induced peripheral neuropathy and endometriosis studies over the next six months.
Proactive: So tell us then, the steps forward for MRX1 from this approval.
Jeremy Sturgess-Smith: In Australia, we can now move quite swiftly into booking beds at the Phase 1 units and starting recruitment. We hope and expect to have data from those trials announced in the first half of next year.
Proactive: Jeremy, I hope you’ll keep us updated on any progress with that. Thank you very much for speaking with us today.