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Zelda Therapeutics to focus on US and Australia clinical trials

A strategic review will see more focus on the largest global markets for medicinal cannabis.

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The company recently dosed its first patent in its Australian insomnia trial

Zelda Therapeutics Ltd (ASX:ZLD) has made a decision following a strategic review to prioritise its clinical trial activities in the US and Australia and cease clinical operations in Chile.

This will ensure Zelda’s resources are focussed on generating clinical data that will best facilitate access to the largest global markets for medicinal cannabis.

Zelda is currently undertaking clinical trials in autism and insomnia in the US and Australia.

READ: Zelda Therapeutics begins observational trial for medicinal cannabis treatment of autism

The Chilean clinical trial collaboration with Fundación Daya has agreed to be ended and also the company’s eczema program will be de-prioritised for now.

Zelda’s managing director Dr Richard Hopkins said: “Following the recent strategic review, the board decided to cease clinical operations in Chile to concentrate on our clinical trial activities in the US and Australia.

“Successful outcomes to clinical studies undertaken in these countries will strengthen our commercialisation position in all major global markets, including Chile.

“Companies evaluating license deals usually put greater weight on US and Australian-based clinical trials so it makes sense to focus on these markets.”

READ: Zelda Therapeutics doses first patient in insomnia clinical trial

Recently, Zelda dosed the first patient in its pioneering medical cannabis insomnia clinical trial.

The company also recently commenced recruitment for its observational trial for autism in the US.

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