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viewCannPal Animal Therapeutics Ltd

CannPal Animal Therapeutics positioned in a growing animal health market

The company's lead drug candidate is a cannabis-derived canine pain medication.

Dog skeleton with cannabis plant leaf
The company listed on the ASX in October 2017 via IPO

CannPal Animal Therapeutics Ltd (ASX:CP1) is leveraged to the growing US$31 billion global animal health industry.

The pharmaceutical-focused animal health company is researching the benefits of medical cannabis for companion animals.

CannPal is primarily focused on the development of canine pain medication CPAT-01D, while developing a strong pipeline of other animal pharmaceutical and nutraceutical products.

Completed phase Ia study

During the June quarter 2018, CannPal completed phase Ia of the pharmacokinetic and safety study for CPAT-01, CannPal’s lead drug candidate targeting pain in dogs.

All observational endpoints of the phase Ia study were met.

The initial target dose had an excellent safety profile with no adverse events observed at the dosages administered.

Progressing to phase Ib

CPAT01 showed significant absorption in its current formulation and the success of phase Ia allowed the company to progress into the preparation of the phase Ib study.

Phase Ib is expected to commence in the September quarter and will include 48 dogs of mixed age, sex and breed.

READ: CannPal Animal Therapeutics to research a cannabis-derived pain treatment for cats

Following the success of phase Ia, CannPal expanded the development program for CPAT-01 to include cats through a research agreement with Eurofins Animal Health Pty Ltd.

The two companies aim to develop a cannabis-derived pain treatment for cats at Eurofins’ research facility in New South Wales.

CPAT-01C (C denotes cats) will leverage knowledge gained from the CPAT-01D (D denotes dogs) studies.

Fully funded for phase II

With $5.11 million in cash at the end of the June quarter 2018, CannPal is fully funded for the planned phase II development of CPAT-01D.

Phase IIa pilot dose determination and population pharmacokinetic studies aim to commence in the December quarter of this year.

CPAT-01D is a pain medication for dogs

CPAT-01D has been developed using active ingredients (both THC and CBD) from the cannabis plant to target symptoms of pain in dogs.

The global canine anti-inflammatory products market has an estimated market size of over US$1 billion.

CPAT-01D is a cost-effective, safe alternative to existing pain medication for dogs with less side effects.

There are little to no pain medications approved for companion animals that are suitable for safe long-term use and non-steroidal anti-inflammatory drugs NSAIDs are widely known for negative side effect profiles.

READ: Cannpal Animal Therapeutics Ltd working with CSIRO in developing cannabinoid treatments for animals

CannPal is also developing nutraceuticals using compounds from the less regulated hemp plant, as part of an early revenue generation strategy.

During the June quarter 2018, CannPal entered into a manufacturing agreement with JayChem Industries Ltd to commence the development work for DermaCann, a treatment for canine skin health.

DermaCann is the first of CannPal’s nutraceutical range and is expected to be market ready as early as mid-2019.

CannPal’s strategy is to position DermaCann as a provider of early potential revenues through alternative regulatory pathways.

Quick facts: CannPal Animal Therapeutics Ltd

Price: 0.105 AUD

ASX:CP1
Market: ASX
Market Cap: $9.78 m
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CannPal Animal Therapeutics leveraged to 'lucrative potential' of growing market

CannPal Animal Therapeutics Ltd (ASX:CP1) founder and managing director Layton Mills speaks to Proactive Investors about the innovative pet pharmaceutical company, which operates in the medical cannabis space. "The goal for the company is really to develop products that can address clear,...

on 25/6/18

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