STOCKHOLM – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) announced that the collaboration agreement with Cannassure Therapeutics has expanded to include a new patent family covering new innovative AKVANO® topical compositions. Lipidor submitted the new patent application to the European Patent Office on 25 October 2021.
Earlier this year, Lipidor signed an exclusive licensing agreement with Cannassure Therapeutics for the use of Lipidor’s patented drug delivery technology AKVANO® in topical medical cannabis products, and the programs are progressing according to expectations. Cannassure Therapeutics plans to apply for approvals to conduct Phase I/IIa clinical trials with medicinal cannabis products for psoriasis and pain treatments during 2022. The results from these clinical studies would be expected in H1 2023.
Swedish R&D company Lipidor AB and Cannassure Therapeutics Ltd, an Israeli commercial medical cannabis company whose operations include the entire medical cannabis value chain, report that the programs for the medicinal cannabis products using AKVANO® technology are progressing to expectations. Additional preclinical data confirm the potential benefits of using AKVANO® for cannabinoids. The next milestone is to submit the clinical study protocols to the Israeli Ministry of Health for their review and approval. Cannassure Therapeutics expects to apply for approvals to conduct a Phase I/IIa clinical trial with a medicinal cannabis product for the treatment of psoriasis in Q1 2022 as well as an application for a Phase I/IIa clinical study for pain treatment in H2 2022. Pending the approvals and completion of the trials, the results from the clinical studies are expected in H1 2023.
In line with Lipidor’s strategy, the company is continuously looking into and undertaking work to further strengthen and extend patent protections for the AKVANO® technology. Based on new IP (intellectual property), the scope of the collaboration agreement has expanded to include a new patent family covering innovative new AKVANO® topical formulations. Lipidor submitted a new priority patent application to the European Patent Office (EPO) on October 25, 2021.
There is a significant unmet need for topical pain and psoriasis therapies, and in both indications the possibility to use an AKVANO® formulation as a non-touch spray is expected to make the treatment more convenient for the patient. Cannabinoids based products are novel, involve new mechanism of action, are safe and tolerable and have the potential to improve quality of life for patients which do not benefit from current products on the market.
“We are delighted that Cannassure Therapeutics’ programs, using Lipidor’s AKVANO® technology in the development of topical medicinal cannabis products, are progressing well. Furthermore, we are pleased to expand the scope of our collaboration agreement with Cannassure since the exclusive licensing agreement represents a significant commercial potential for Lipidor and an external validation of our unique formulation platform, showing that cannabinoids can also be well incorporated into AKVANO®. We have great faith in Cannassure moving forward as well as high expectations on the partnership with the aim to commercialize innovative new products as soon as possible,” says Ola Holmlund, CEO of Lipidor.
In light of the outbreak of the coronavirus and COVID-19, Lipidor is closely monitoring developments and taking measures to minimize or eliminate the impact on the company’s operations. To date, the COVID-19 pandemic has had a limited effect on Lipidor’s operations, but the company may need to revise its schedules if the pandemic is prolonged.
The initiation of the clinical studies followed by the anticipated results timelines is subject to approval by the Israeli Cannabis Unit and the Israeli Ministry of Health.
The information was submitted for publication, through the office of Lipidor’s CEO, on 29 October 2021, at 2.45 pm CEST.
(This information is primarily sourced from Lipidor. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).