The company’s managing director Dr Richard Hopkins told investors at this week’s Proactive CEO Sessions in Sydney and Melbourne that the company is well placed to service a rapidly growing global market.
READ: Zelda Therapeutics to use Federal Government R&D tax rebate of $769,000 to drive clinical trials
He said the company was building a portfolio of clinically validated assets which presented multiple revenue opportunities to license and generate milestone and royalty payments.
This strategy was well advanced because the company had a singular focus on clinical validation to address key unmet needs.
Among the interesting medicinal cannabis market dynamics outlined were:
- Medicinal cannabis is legal in more than 34 countries and in 35 US states;
- Only around 1% of the population in the US and Canada is registered to use medicinal cannabis;
- The medicinal cannabis market is forecast to grow to $40-55 billion by 2028 (18% CAGR);
- Around US$20 billion has been raised by medicinal cannabis companies over the last four years; and
- 21 kilograms is the amount of cannabis required to consume for a lethal dose.
Zelda has a number of upcoming catalysts including results of three first-in-class clinical trials, an insomnia trial, observational autism trial and opioid reduction trial, which are due in the second half of 2019.
Among the recent highlights are an expanded pre-clinical program for cancers and cognitive decline, and a manufacture and German distribution agreement with Hapa Medical BV.
Zelda has also established partnerships with US-based Ilera Healthcare to access more than 110,000 patients and with Suda to develop proprietary oral mucosal formulations.