Zelira Therapeutics Ltd (ASX:ZLD, OTCQB:ZLDAF)’s research and development (R&D) and commercialisation programs are expected to lead to the launch of a suite of new cannabinoid-based products over FY22.
In FY21, the global medicinal cannabis company focused on expanding commercialisation activities and revenue generation from new clinically validated products.
It looked forward to further progressing its strategic initiatives in the coming year as it accelerates the growth of its business.
Milestone period
The 12 months ended June 30, 2021, was a milestone period for Zelira following the merger of Zelda Therapeutics and Ilera Therapeutics.
Zelira, a global cannabinoid-based biopharmaceutical company with access to the world’s largest and fastest-growing markets, owns a portfolio of proprietary revenue-generating products and a pipeline of candidates undergoing clinical development that are positioned to enter global markets.
It has developed and continues to develop, branded cannabinoid-based medicines for the treatment of a variety of medical conditions in its prescription [Rx] business, including insomnia, autism and chronic non-cancer pain as well as offering over-the-counter (OTC) products.
Start of revenue generation
Revenue of A$663,316 against nil in FY20, reflected the commencement of sales of SprinjeneCBD toothpaste, Rx (THC products) sales, product development agreements, clinical trial management and product licensing fees from Levin Health.
The A$8.5 million loss after tax reflected the expanded R&D activities of the group as well as administration costs, as it rapidly built its portfolio of both Rx products and hemp-derived CBD-based biopharmaceutical products for future revenue generation.
“Only just got started”
Chairman Osagie Imasogie said: “We are very excited by the opportunities we see to continue rapidly and sustainably growing Zelira.
“With the new team in place, we have only just got started."
Delivered on promises
“The company delivered on its growth strategy in FY21, achieving the key milestones set by the new leadership team, and also bringing forward future development and commercialisation milestones following the successful capital raisings undertaken," he said.
“We have an exciting 12 months ahead, and we look forward to updating you on the company’s progress as we move forward.
Zelira Therapeutics’ global chief executive officer and managing director Oludare Odumosu agreed, adding: “We have delivered on our promises over the 12 months ended 30 June 2021 (FY21), and I am very proud of the results we have been able to achieve.”
Four of the highlights for the year included:
➢ The approval of Zenivol™ by the Therapeutics Goods Administration (TGA) for prescription to patients in Australia via its Special Access Scheme, to treat chronic insomnia in September;
➢ Launch of its proprietary CBD toothpaste in the US in partnership with SprinJene®, a leader in natural oral care products. This was the first of several scientifically formulated, hemp-derived, oral care products containing cannabinoids, including broadspectrum CBD, being created;
➢ The HOPE™ range of autism spectrum disorder products were made available for sale to approved dispensaries in Washington DC, which has reciprocity with 32 other States in the US with approved medical cannabis programs; and
➢ It launched its CBD toothpaste in the UK via an exclusive distribution agreement with Health House International, further expanding the availability of Zelira’s SprinjeneCBD toothpaste brand beyond the US. The UK market provides significant growth opportunities for Zelira’s clinically validated, hemp-derived oral care products.