Cardiol Therapeutics (TSX:CRDL, NASDAQ:CRDL) Inc CEO David Elsley has told investors that the clinical-stage life sciences company is “well-positioned” to pursue the development of new treatment options for patients living with heart disease.
In a look back at its 2021 year, Elsley said the firm accomplished “several important goals” related to the development of its pharmaceutically produced cannabidiol formulations for use as an anti-fibrotic and anti-inflammatory therapy in cardiovascular disease.
The CEO highlighted novel product development, key basic research initiatives, and clinical programs that the Oakville, Ontario-based Cardiol accomplished throughout the year. The company celebrated the receipt of US FDA clearance to go ahead with its Phase II trial of CardiolRx, its lead drug candidate, and listing on the Nasdaq exchange in the US over the summer of 2021.
READ: Cardiol Therapeutics receives clearance to expand eligible patient group for its LANCER study
“Strategic appointments to our management team, board of directors, and advisory panels added invaluable industry experience and expertise,” Elsley said in a statement.
“We fortified our financial position raising $98 million in gross proceeds and we listed on the Nasdaq to support our efforts to increase awareness of Cardiol within the US financial community. Cardiol is now well positioned to continue pursuing its objective of developing new treatment options to improve the health and quality of life for patients living with heart disease, who are currently underserved by available therapies."
Over the coming 12 months, Cardiol expects to complete patient enrollment of its LANCER Phase II/III trial designed to evaluate the efficacy and safety of CardiolRx as a cardioprotective therapy to reduce major cardiovascular and respiratory events in hospitalized COVID-19 patients that have a history of heart disease.
The company will also start enrolling patients in its Phase II multi-national, randomized, double-blind, placebo-controlled trial designed to evaluate the efficacy and safety of CardiolRx in acute myocarditis.
Cardiol is also planning to advance its subcutaneous formulation of CardiolRx as a potential anti-fibrotic and anti-inflammatory therapy for the treatment of chronic heart failure this year.
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