Zelda Therapeutics doses first patient in insomnia clinical trial

Zelda Therapeutics Ltd (ASX:ZLD) has dosed the first patient in its pioneering medical cannabis insomnia clinical trial.

A randomised, placebo-controlled, crossover study design will be used to treat 24 patients with Zelda’s medicinal cannabis formulation.

The study will collect and analyse data to determine the effect of the Zelda formulation on the time it takes to fall asleep, time spent awake and asleep during the night and quality of sleep.

Results from the trial are expected in the first half of 2019.

READ: Zelda Therapeutics enters German medical cannabis market with partnership

Dr Richard Hopkins, Managing Director of Zelda said, “This is a major milestone for Zelda as it represents the first of a number of clinicaltrials we’re planning to commence over the coming months.

“Positive data will enable Zelda to accelerate its commercialisation plans, which have been facilitated by our recent agreement with HAPA Medical to manufacture and distribute Zelda products in Germany and Europe.”

Bloomberg recently reported that US investors are piling into an exchange-traded fund (ETF) known as ETFMG Alternative Harvest ETF which tracks the Canadian cannabis industry.

This comes as the country moves toward legalisation and liquor producers show growing interest in selling cannabis.

The US-listed US$662 million cannabis ETF is up 20% over the past month.

Alcohol giants teaming up with cannabis companies

Recently, alcohol giant Constellation Brands Inc (NYSE:STZ) invested $3.8 billion in Canadian marijuana maker Canopy Growth Corp (NYSE:CGC).

This is the biggest deal to date in what is now a fast emerging industry and has played a key role in turning investors’ attention to the industry.

Story by ProactiveInvestors