- Zelira Therapeutics (ZLD) has entered a binding product development agreement with Cardiovascular Solutions of Central Mississippi (CVSCM)
- Zelira will develop hemp-derived products to target symptoms of Peripheral Arterial Disease and Diabetic Neuropathies
- Out of the 30 million Americans suffering from diabetes, one in three over 50 years of age will develop Peripheral Arterial Disease
- Additionally, Diabetic Neuropathy is the most common complication associated with diabetes
- The companies will develop and commercialise products to improve efficacy and tolerability in patients
- Zelira’s shares are up 9.43 per cent and are trading for 5.8 cents each
Zelira Therapeutics (ZLD) has entered a binding product development agreement with Cardiovascular Solutions of Central Mississippi (CVSCM).
The agreement will target symptoms associated with Peripheral Arterial Disease (PAD) and Diabetic Neuropathies (DPN).
PAD is the leading cause of non-traumatic amputations. Out of the 30 million Americans who suffer from diabetes, one out of three over the age of 50 will develop PAD.
Associated diabetic neuropathy also poses substantial consequences for patients. DPN is the most common complication associated with diabetes. It’s also the leading cause of disability due to foot ulcerations, gait disturbances, fall risks and may lead to infection and limb amputation.
According to the American Diabetes Association, diabetes cost the nation US$326 billion (roughly A$456.8 billion) in 2017.
Zelira will develop products based on CBD and other cannabinoids derived from hemp. These products have the potential to provide improved efficacy and tolerability to target the unmet need in addressing PAD and its complications.
“This collaboration represents the first of its kind in this field and allows us to focus on the impact of PAD on quality of life for patients,” Zelira US CEO and Managing Director Dr Oludare Odumosu said.
“Dr Fakorede and the CVSCM team have led the way in reducing rates of amputations in the Mississippi area through intervention and education on the risks and burden of PAD,” Oludare added.
Under the agreement, Zelira will receive a licence fee as it exclusively owns all products developed under the agreement. However, CVSCM will retain exclusive marketing rights in the U.S. and Zelira will hold marketing rights for all other markets.
CVSCM will assess the efficacy of the products in relevant patient groups.
“There has been significant progress in the understanding of the molecular mechanisms of cannabinoid action that target multiple medical conditions,” CVSCM CEO Dr Foluso Fakorede said.
“A number of these cannabinoid-based medicines are approved by the U.S Food and Drug Administration’s (FDA) on the basis of scientific evidence,” Foluso added.
Zelira’s shares are up 9.43 per cent and are trading for 5.8 cents each at 2:03 pm AEST.