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Impression Healthcare aims for competitive edge over ‘cure-all’ suppliers with unique medical cannabis trials
Impression Healthcare (ASX: IHL) is on the road to gaining a competitive edge in the medicinal cannabis field with four upcoming trials aimed at clinically validating unique cannabinoid (CBD) products for major medical issues.
The disruptive healthcare company only entered the medicinal cannabis space about six months ago and has already made headway with various license and supply agreements before announcing its latest deal with Australia’s largest network of medical cannabis clinics, Cannvalate.
Under the terms of a binding agreement announced last month, Cannvalate will purchase and distribute Impression Healthcare’s licenced CBD medicines throughout its fast-growing network of more than 1,000 prescribing doctors and 600 pharmacies.
In addition, Cannvalate will fund the majority of the costs to conduct four clinical trials of medical cannabis products.
These include a “first of its kind” trial studying the use of synthetic CBD oil to improve symptoms of traumatic brain injury from sporting incidents.
The other three trials will examine: the use of dronabinol for obstructive sleep apnoea; CBD chewing gum for severe periodontitis, otherwise known as gum disease; and CBD oil for temporomandibular joint disease (TMJ), which is a painful disorder involving the restricted movement of the jaw joint and muscles.
Tailor-made products vs. a ‘cure-all’
Impression Healthcare chief executive officer Joel Latham spoke with Small Caps about the significant value the clinical trials are expected to unlock for the company.
“What other suppliers are doing is effectively a cure-all product with limited data and limited clinical information backing-up their product, whereas we’ve taken the route to clinically validate everything that we’re doing for those specific issues,” Mr Latham said.
He said having the data clinically proven essentially means Impression Healthcare will be first to market for these indications.
Mr. Lathan also added that, “That’s what doctors want to see within the Australian market – it needs to be clinically proven, clinically validated and we’re going to have all of that behind our products to ensure that its successful once launched and we get it out throughout the Cannvalate network.”
Also, he said creating specific treatments for specific indications allows Impression Healthcare to tailor its marketing towards relevant specialists within Cannvalate’s network of doctors.
“For example, we’d be targeting sleep physicians, dentists or periodontists that specifically look after those issues, and our products are specifically related to those professions.”
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