Zelira Therapeutics Ltd (ASX:ZLD) (OTCMKTS:ZLDAF) has entered into a non-binding Heads of Agreement with Melbourne-based cannabis company Levin Growing Pty Ltd to develop a novel cannabinoid treatment for sports-related chronic pain.
Levin will fund the trial with Zelira to design and manage the study aimed at assisting retired professional and amateur athletes using its proprietary cannabinoid formulation.
Studies demonstrate that retired athletes are more likely to suffer chronic pain and associated conditions such as depression and anxiety because of injuries over long periods of time.
Medical cannabis may provide a safe and effective targeted treatment option for this large cohort although the clinical data is currently limited.
Clinical trial to assess safety
Zelira’s partnership with Levin will seek to address this unmet need by undertaking a clinical trial, at Levin’s expense, to assess the safety and efficacy of a proprietary cannabinoid formulation tailored for sports-related chronic pain.
The proposed partnership will leverage Zelira’s leading intellectual property portfolio and expertise in clinical trial design for medical cannabis, including chronic pain, along with Levin’s advisory team and network of retired professional athletes.
Levin chairman Matt Syme said: “Zelira’s clinical expertise and our joint focus on the medical science behind cannabis as a pain treatment provides hope for long overdue, non-addictive relief options to chronic, sports-related pain sufferers.”
Profits shared
Upon the Heads of Agreement becoming binding, Zelira will license a specific formulation to Levin to support the chronic pain clinical trial in retired athletes.
Zelira will hold marketing rights for North and South America with Levin retaining rights to all other world markets and profits will be shared equally between both companies.
Negotiations will begin immediately to prepare a definitive and binding agreement, which will be conditional upon acceptance of the clinical trial design by both parties.
This work expands and complements Zelira’s strategic interests in chronic pain while maintaining focus on the global launch of its proprietary insomnia and HOPETM products.
Opioid Reduction Study in Melbourne
Zelira has made other advances in using its proprietary products, most notably opioid reduction for people suffering chronic pain.
It is currently involved in an Opioid Reduction Study in collaboration with St Vincent’s Hospital in Melbourne.
It is undertaking a study to assess the safety and effectiveness of medical cannabis to reduce opioid dependence.
Prescription opioids treating chronic pain are linked to serious side effects, which is a growing global crisis.