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- Bod Australia (BDA) enters an agreement with the Woolcock Institute to undertake a phase IIb clinical trial for the development of a new cannabidiol (CBD) product
- The primary aim of this study is to investigate the effect on insomnia severity index scores in adults aged between 18 and 65 years old who are insomniacs
- The trial will run for 12 weeks, will recruit roughly 200 participants and will compare both a placebo and CBD product group
- Upon completion of the trial, the finished product will be patentable, allowing Bod to progress potential licensing agreements with a number of companies
- Bod has ended the day 11.5 per cent in the green with shares trading at 29 cents
Bod Australia (BDA) has entered an agreement with the Woolcock Institute to undertake a phase IIb clinical trial for the development of a new CBD product.
The study will be performed at the Woodcock Institute of Medical Research which is Australia’s leadingsleep and respiratory research organisation.
The primary aim of this study is to investigate the effect on insomnia severity index scores in adults aged between 18 and 65 years old who are insomniacs.
Additionally, the trial will determine objective sleep indicies as well as anxiety and stress levels.
The trial will run for 12 weeks with roughly 200 participants taking part.
Head of Sleep and Circadian Research at the Woolcock Institute of Medical Research Professor Ron Grunstein commented on the trial.
“Given the need for alternative treatments for insomnia, it is critical to investigate the effect of CBD on sleep through a high-quality study,” Mr Grunstein said.
The aim of this trial is to test the efficacy of Bod’s CBD formulation on symptoms associated with insomnia.
The trial will be double blind, randomised and compare both a placebo and CBD product group.
Upon completion of the trial, the finished product will be patentable, allowing Bod to progress potential licencing agreements with a number of companies.
Bod expects the product will be made available to all Australian consumers and eventually to the United States and United Kingdom.
CEO Jo Pattesron said the company was looking forward to working with the Woolcock Institute.
“We look forward to working with the Woolcock Institute and are confident that the results of the completed clinical trial will provide the required data to commercialize an over-the-counter scheduled 3 CBD product for Australian consumers,” Ms Patterson commented.
“With Bod’s existing distribution networks, established partnership with H&H, relationships with other groups, and a rapidly developing market for scheduled 3 products with few side effects than existing offerings, the successful completion of this study will launch major opportunities for the company.”
Bod has ended the day 11.5 per cent in the green with shares trading at 29 cents in a $27.51 million market cap.
