Zelira Therapeutics teams up with Levin Health to trial cannabinoid treatment for chronic pain in retired athletes

Zelira Therapeutics Ltd (ASX:ZLD) (OTCMKTS:ZLDAF) has licensed its cannabis formulation to Levin Health Limited for an upcoming clinical trial.

Levins will use the medicinal cannabis company’s ZTL-106 formulation for testing on retired athletes in a chronic pain treatment study at La Trobe University in Melbourne.

This trial will be sponsored by Levin, which will pay Zelira to design and manage the study, while both companies will share any commercialisation profits.

“Innovative drug development project”

Zelira Therapeutics managing director Dr Oludare Odumosu said: “Zelira is thrilled to partner with Levin Health on this innovative drug development project.

“This collaboration demonstrates Zelira’s world-class formulation and expertise in fast-tracking drug development.

“This partnership also leverages Levin Health’s mission to impact chronic pain treatment approaches.

“We look forward to creating and validating a proprietary product that will help treat chronic pain.”

The fine print

Essentially, Zelira brings intellectual property and clinical trial expertise to the table, while Levin will provide a network of patients and an advisory board to oversee the study.

Breaking it down, the new licensing agreement will cover the use of Zelira’s medicinal cannabis formulation in the upcoming trial.

A separate project management agreement stipulates the ASX-lister will manage the study with Levin’s financial backing. Zelira will also receive a management fee for this contribution.

When it comes to marketing rights for the formulation, Zelira will hold court in Northern and Southern America, while Levin will retain rights across all other world markets.

Levin Health CEO Mark Brayshaw said: “Levin is delighted to partner with Zelira in this world-class trial investigating ZTL-106 as a potential treatment for chronic pain in athletes.

“Quality clinical trial data is a vital requirement to validate cannabinoids as medicine, and Zelira is doing some of the best clinical work in the sector in Australia and globally.

“Chronic pain is one of the major health issues facing not just athletes, but all active Australians, and we have high hopes for the trial.”

Chronic pain a growing issue

As chronic pain becomes more prevalent in Australia’s health landscape, new treatment options are becoming more critical.

In fact, a 2016 study by the Australian Institute of Health and Welfare reported one in five Australians over 45 had chronic pain.

The ailment is also increasingly treated in a clinical setting; GP visits for chronic pain conditions have jumped 67% within a decade.

While its primary focus remains developing medicinal cannabis drug candidates for insomnia and autism spectrum disorder markets, Zelira said managing this chronic pain trial will expand and complement its healthcare interests.

The company commences as the study’s project manager from June 3.

Story by ProactiveInvestors