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Gleneagle Gold Ltd outlines final timeline to medicinal cannabis transition

Published: 09:30 22 Jun 2016 AEST

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Gleneagle Gold Ltd (ASX:GLN) is well-advanced in its transition into the medical cannabis sector, as it progresses the  reverse takeover of Zelda Therapeutics, a California-based biotechnology company.

The company will host its general meeting on the 25th July 2016 in Perth, where shareholders will vote on the significant change to the nature and scale of its activities.

Zelda is a biotechnology company that was spun out of a successful US-based medicinal cannabis group - Aunt Zelda’s - that has treated hundreds of patients in California.

Zelda has exclusive, global access to an extensive set of human data related to medicinal cannabis-based formulations and treatment protocols.

This human data has been generated over several years by the Aunt Zelda’s group.

Aunt Zelda’s has a very high profile within the U.S. and a growing international profile based upon its deep knowledge of the scientific rationale for certain cannabis-based formulations and protocols to treat a variety of medical conditions.

Zelda has been granted a worldwide, exclusive and perpetual licence to this data, related systems, formulations and treatment protocols by the Aunt Zelda’s group.

Zelda will use this information to design a series of Phase 2-ready human clinical trials that have a high probability of success given the existing patient experiences and treatment outcomes


Next steps post acquisition


- Expand the management team;
- Continue pre-clinical research and development activities in Spain and eventually Australia; and
- Plan and fund the commencement of human clinical trials in Canada and eventually Australia.

 

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