- The company has two key divisions, pharmaceutical and nutraceutical.
- Its pharmaceutical division dispensed 846 bottles of cannabis therapeutics NanaBis and NanaBidial in October 2019.
- Medlab’s nutraceutical divisions allows for revenue generation, brand and company valuation building activities.
- The pharmaceutical division also brings in revenue but in small sums as the company led by business builder Sean Hall commercialises its pipeline.
Medlab prioritises trial patient access over SAS uses to which as an update, the RNSH Trial has recruited its last patient and is currently in the intervention stage with again early data received is very encouraging.
Medlab is very excited with the progress of results from NanaBis as the company moves forward to drug registration.
Medlab Clinical managing director & CEO Sean Hall
What does Medlab Clinical do?
The seven-year-old New South Wales company is targeting chronic disease management with its pipeline.
Medlab has nutraceutical and pharmaceutical divisions and hopes to improve choices for people with chronic diseases, offering medical cannabis pharmaceutical solutions for people in need of help with pain management.
The Sydney-based company is taking a registered medicinal cannabis drug through a clinical trial program and is commercialising the therapeutic with direct product sales and distribution partnerships for global markets.
Medlab reported today it had enrolled the final patient in a Sydney medical trial at acclaimed facility, the Royal North Shore Hospital.
Medlab managing director & CEO Sean Hall said, “Medlab prioritises trial patient access over [special access scheme]-SAS uses to which as an update, the RNSH trial has recruited its last patient and is currently in the intervention stage with again early data received is very encouraging.
“Medlab is very excited with the progress of results from NanaBis as the company moves forward to drug registration.”
The company is entering the US nutraceuticals market with the help of a partner, American Nutritional Corp Inc (ANC).
It listed on the ASX in mid-2015 and has a number of offices globally, with representatives in the US, UK and Malta.
Who leads Medlab Clinical?
The company is led by its founder, managing director & CEO Sean Hall.
Hall is a doctor and finance professional who has undertaken higher degree research into simplifying clinical trial progress.
The commercialisation specialist has more than 21 years’ experience in industry, holding a number of senior executive positions over the past two decades.
Hall was previously chief executive officer of FIT BioCeuticals and served 14.5 years with the leading practitioner-referred company which he sold to Blackmores in mid-2012.
Who is Medlab Clinical targeting?
The cannabis drug and nutraceutical products developer and marketer has a broad reach for its potential client base.
Medlab is targeting people with chronic diseases with its pipeline, giving it potential exposure to a large number of people across the world.
The company is experiencing increased demand for its products and is currently producing 4,000 units of NanaBis to meet demand.
It reported today, “NanaBis, Medlab’s lead pain drug candidate programme using standardised, purified THC and CBD in Medlab’s proprietary NanoCelle delivery platform has seen unprecedented increases in demand.
“Sales are via the government’s special access scheme and demand increase in part reflects two emerging factors differentiating Medlab products.”
The factors are clinical trials at Royal North Shore and doctor and patient access to a TGA-approved observational study in the US which has recruited 93 doctors and 161 patients.
More than 11 million people, or half of Australia’s population, had a chronic disease in 2014-15.
About one in three problems in general practice that year were associated with chronic diseases.
These chronic diseases are key indications for Medlab’s pipeline and are: obesity, cardiovascular disease, chronic kidney disease, musculoskeletal conditions, respiratory conditions, cancer, endometriosis and eye health.
The conditions are particularly common in Western markets with ageing populations.
About 87% of people aged 65 years or older had one of the eight diseases in 2014-15, while 35% of people in a newborns-to-age-44 category had a chronic disease.
More than one in three preventable hospitalisation the previous financial year was put down to one of the eight chronic diseases.
Medlab reported today it was achieving success in patient groups from SAS prescriptions and observational study.
People given NanaBis significantly reduced their drug intake, particularly of opioid medications.
The patients also had an improvement in their quality of life, including better sleep, increased appetite, decreased anxiety and a reduction in pain levels.
These results were seen by three doctors treating patients with pain from cancer and neuropathy, with specifics shared with the market today.
What is Medlab Clinical’s revenue base?
Medlab has a market capitalisation of about A$80.8 million and had A$6.9 million cash at the end of September 2019.
The Australian junior company is taking a nutraceuticals revenues approach to its commercialisation.
It increased revenues 46% in financial year 2019 and cash collections 24% in the same period to end June 2019 with A$15 million in assets.
Trade receivables were A$1.8 million in the year ended June 2019, with a A$25,000 expected credit loss allowance.
Medlab is facilitating an introduction of the products to world markets and then using the income help support its therapeutics pipeline.
The company’s nutraceutical business collected A$2.4 million of nutraceutical and pharmaceutical revenues in the September quarter of 2019, a 96% quarter-over-quarter increase on the September 2018 quarter.
Medlab then banked a A$2.1 million R&D tax incentive payment from the Australian Government after quarter’s end in October 2019.
The company’s pharmaceutical division took a 1,500-unit order for its newest cannabinoid NanoCBD in the September 2019 quarter.
The Hong Kong client has already taken receipt of the product and paid a deposit.
Medlab’s pharma division solidly increased the number of products it dispensed under a special access scheme in the September 2019 quarter, primarily through lead product NanaBis dispensations.
The company reported a 273% year-on-year revenue increase, in its November 2019 annual general meeting presentation, and a 45% September-on-September-quarter revenue increase.
Medlab received its first NanoCBD export order in October 2019, with revenues from the order already hitting the company’s bank account this quarter.
- Pharmaceutical and nutraceutical business revenues
- Financial milestones and significant transactions
- Revenue growth expansions and eventual profit
- M&A activity in the Australian biotechnology industry and its various sectors