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Cannvalate partners with Impression Healthcare (ASX:IHL) to deliver four medicinal cannabis clinical trials valued at over $3million
Media Release, Melbourne, Australia, Thursday 21st March 2019 – Medicinal cannabis company, Cannvalate, has signed a collaboration agreement with Impression Healthcare (ASX:IHL) that involves Cannvalate:
1 – Undertaking four separate, randomised clinical trials, on behalf of Impression, to progress medicinal cannabis products to open new markets, via the Swinburne-Cannvalate medicinal cannabis research collaboration, Australia’s first and only cannabis-only Contract Research Organisation, and,
2 – Providing Australian cannabis market access to impression for the distribution of their products via the Cannvalate network. Cannvalate is Australia’s largest network of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring healthcare professionals and 600 affiliated pharmacies spanning all states of Australia. Cannvalate prescriptions currently account for over 30% of the Australian market, which has seen the number of total monthly prescriptions increase by over 800% in the last twelve months.
The four trials will include:
o Dronabinol for Obstructive Sleep Apnoea Syndrome
o Synthetic CBD Oil for Improvement of traumatic brain injury in Australian rules, rugby league and rugby union players following concussion
o Cannabidiol (CBD) chewing gum for severe periodontitis (gum disease)
o CBD Oil for temporomandibular joint dysfunction
CEO and cofounder, Cannvalate, Dr Sud Agarwal, said, “We are delighted to be working with Impression Health to perform game-changing clinical research for significant medical diseases at our world class medicinal cannabis research unit.”
“Researching cannabinoid pharmacological solutions for obstructive sleep apnoea, periodontitis, traumatic brain injury and TMJ dysfunction is particularly exciting as all four of these diseases have no existing therapies available today.”
CEO Impression Healthcare, Joel Latham, said, “Partnering with Cannvalate provides Impression the capability to open new markets in the medicinal cannabis sector in Australia and abroad. It is an endorsement of our existing products and projects from a group that has strong medical credentials and financial backing. We are delighted to have partnered with Cannvalate and look forwards to collaboratively working together to grow sales and conduct clinical research of the highest calibre”.
Cannvalate has established the Swinburne-Cannvalate Medicinal Cannabis Research Collaboration, Australia’s first Cannabis-only Contract Research Organisation producing commercially-focused, cost-effective clinical trials on cannabinoid based drugs in clinical settings. The trials are led by a diverse team of illicit drug research professors, 10 medical specialists and a further 12 post-docs, research assistants and ancillary staff.
Cannvalate’s suite of services consists of four key areas including;
ACMA (Australian Cannabis Market Access) – providing immediate access to prescribing doctors and patients
Medicinal cannabis research – fast-tracked clinical trials to enhance standing with medical prescribers
CannaFarm – ready to grow cultivation hubs with all licenses/permits provided
Compliance as a service – outsourced license applications for Import/ Export, Cultivation, Research, Manufacturing, Wholesale
Cannvalate launched in April 2018 and completed a series A $4million raise in October 2018 with plans to IPO in 2019.
Earlier this year, Cannvalate also announced a recent purchase of more than 100 acres of farm land in Melbourne, Victoria and has plans to become Australia’s largest cannabis cultivation hub. The company will build a number of individual facilities that have full Office of Drug Control approval on behalf of four international companies who have already signed pre-commitment agreements to lease them. The purchase is part of a broader company strategy focused on facilitating the seamless entry of global Licensed Producers of medicinal cannabis into the Australian market.
# ENDS #
Media Contact for Cannvalate | The PR Hub
Samantha Dybac, Managing Director
+61 411 251 373 | samantha@theprhub.com.au
Available for Interview: Dr Sud Agarwal, CEO and Co Founder, Cannvalate www.cannvalate.com.au
Download Cannvalate Imagery
High res image of Dr Sud Agarwal
https://bit.ly/2Ed5y7S
High res image of Cannvalate cofounders (L-R)
Dr Sud Agarwal, Darryl Davies and Asaf Katz
https://bit.ly/2Jmqbx5
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About Cannvalate
Cannvalate is Australia’s largest business-to-business services company helping Licensed Producers of medicinal cannabis fast track their growth into the Australian market. As Their four key services include:
- ACMA (Australian Cannabis Market Access) – Australia’s largest network of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring healthcare professionals and 600 affiliated pharmacies spanning all states of Australia. Cannvalate prescriptions currently account for over 30% of the Australian market, which has seen the number of total monthly prescriptions increase by over 800% in the last twelve months.
- Medicinal Cannabis Research – fast-tracked clinical trials to enhance standing with medical prescribers
- CannaFarm – ready to grow, turnkey cultivation hubs with all licenses/permits provided
- Compliance as a service – outsourced license applications for Import/ Export, Cultivation, Research, Manufacturing, Wholesale
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About Impression Healthcare Limited (ASX: IHL)
Impression Healthcare Limited is Australia’s largest home dental impression company and is disrupting the dental devices market by providing consumers with an in-home method to consume laboratory-grade and personalised dental healthcare products at significantly lower prices than those offered by the traditional dental industry. Impression has significantly grown its distribution footprint and increased its revenues by 359% in the 2018 Financial Year. With its own dental laboratory in Victoria, Australia Impression offers best in class teeth protection and helps its customers combat bruxism, snoring, mild to moderate sleep apnoea and teeth discolouration with custom-fitted oral devices.
Impression has also broadened its commitment to disruption in the healthcare sector by pursuing multiple opportunities in the field of medicinal cannabis distribution and development including; a collaboration agreement with leading US Cannabinoid therapeutics Company, AXIM Biotechnologies Inc; a license agreement for the production and distribution of Dronabinol in the USA, Canada, Australia and New Zealand with Resolution Chemicals Ltd; and an agreement for the distribution of medicinal cannabis oils with a major Canadian manufacturer. Impression will leverage its existing marketing activities to explore opportunities to distribute a range of cannabinoid therapeutic products throughout multiple jurisdictions.
Investors: investors@impression.healthcare Website: www.impression.healthcare
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Dr Sud Agarwal Biography
Dr Sud Agarwal is the co-founder and chief executive officer of Cannvalate, Australia’s first medically backed, medicinal cannabis company, focused on providing a seamless entry for global licensed producers of medicinal cannabis into the Australian market.
He is a former medical director of the Cann Group (ASX:CAN) and current medical adviser to multiple listed/ unlisted companies and government bodies in the cannabis space.
Dr Agarwal received his medical qualifications in the United Kingdom before emigrating to Australia in 2001. He has since commercialised, scaled and successfully exited three healthcare businesses and has a track record for seeing business opportunities at their earliest stage, and building high performing teams.
Dr Agarwal is also an experienced property developer who has completed 7 projects comprising residential, commercial and mixed-use projects. As the founder and director of Sterling Property Group, he has proven his ability to achieve excellent design and planning results, manage construction projects and deliver multi-faceted built form outcomes on time, under cost and with superior quality.
A rare combination of extensive medical experience, commercialisation success in several healthcare businesses and a proven track record in property development, positions Dr Agarwal perfectly to lead Cannvalate.
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