The initial study compared the anti-tumour responses of pure tetrahydrocannabinol (THC) versus the Zelda Therapeutics formulation of THC-rich oil.
The study also compared the potency against a standard chemotherapy drug, Lapatanib.
The study showed that Zelda’s formulation of THC-rich oil was significantly more potent at reducing tumour growth than pure THC and more importantly, was as potent as Lapatanib in reducing tumour growth.
The ultimate aim of the work program is to licence this intellectual property to a major group better resourced to progress into formal human clinical trials in the area of cancer therapy.
As per the company’s business model, Zelda will benefit through structuring deals comprised of up-front payments, milestones and royalties from these licensees.
The U.S. medical cannabis market alone is projected to be valued at over US$6 billion by 2018.
Zelda recently re-listed on the ASX raising $4 million following the finalisation of a reverse take-over.