Zelda Therapeutics Ltd (ASX:ZLD) is on a rapid path to commercialisation of its medicinal cannabis products aimed at treating pain, anxiety, sleep apnea and cancer.
The company’s managing director Dr Richard Hopkins told investors at this week’s Proactive CEO Sessions in Sydney and Melbourne that the company is well placed to service a rapidly growing global market.
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He said the company was building a portfolio of clinically validated assets which presented multiple revenue opportunities to license and generate milestone and royalty payments.
This strategy was well advanced because the company had a singular focus on clinical validation to address key unmet needs.
Market dynamics
Among the interesting medicinal cannabis market dynamics outlined were:
- Medicinal cannabis is legal in more than 34 countries and in 35 US states;
- Only around 1% of the population in the US and Canada is registered to use medicinal cannabis;
- The medicinal cannabis market is forecast to grow to $40-55 billion by 2028 (18% CAGR);
- Around US$20 billion has been raised by medicinal cannabis companies over the last four years; and
- 21 kilograms is the amount of cannabis required to consume for a lethal dose.
Zelda has a number of upcoming catalysts including results of three first-in-class clinical trials, an insomnia trial, observational autism trial and opioid reduction trial, which are due in the second half of 2019.
Among the recent highlights are an expanded pre-clinical program for cancers and cognitive decline, and a manufacture and German distribution agreement with Hapa Medical BV.
Zelda has also established partnerships with US-based Ilera Healthcare to access more than 110,000 patients and with Suda to develop proprietary oral mucosal formulations.