Emyria Ltd (ASX:EMD) continues to focus on the registration of EMD-003, a cannabinoid-based medicine to reduce symptoms of anxiety, depression and stress.
The company is now analysing its data to refine the pivotal registration clinical trials which are expected to commence in the current half-year.
Further updates will be provided to the market accordingly.
Emyria ended the quarter (December 30, 2020) with $4.8 million in cash.
“Unprecedented 2020”
Managing director Dr Michael Winlo said: “Emyria ends a challenging and unprecedented 2020 with a strong quarter full of highlights.
“We have increasing demand from patients for our independent and personalised model of care at Emerald Clinics.
“This allows us to enrich and grow our proprietary data asset which we use to improve care, create IP and generate robust evidence to support our own drug development programs.
“As an example, EMD-003, launched in the December quarter, will use this evidence-based data to seek registration with the TGA for the rescheduled OTC market.
“EMD-003 will target the growing global mental health burden with a focus on the symptoms of anxiety, depression and stress.
“In the December quarter we also formed new partnerships that will expand our therapeutic options and patient data which positions us well for 2021.”
First drug development programs
In the December 2020 quarter the company launched its first drug development programs backed by Emyria Data and filed IP to target mental health and irritable bowel syndrome.
The company has started the expansion of an analytical team to identify new cannabinoid drug indications for Emyria’s growing drug development portfolio.
Strategic development continues
Emyria continues to support strategic development into its remote monitoring platform - Openly.
After obtaining class-I registration with the TGA in December, Emyria started an application for class II TGA registration for the platform’s smartphone-led heart rate and heart rate variability measurement technologies.
These vital sign measures correlate to psychological distress - which can be an early sign of clinical deterioration or mental health changes.
The company believes these measures will be important to the development of EMD-003, focused on alleviating mental health symptoms.
Emyria continues to work with Mt Sinai hospital (NY) on the development of this technology and has applied for several grants to further develop Openly and its application to mental health.