- Zelira Therapeutics (ZLD) has entered a trading halt ahead of a capital raise announcement
- Most recently, Zelira entered an agreement with Cardiovascular Solutions of Central Mississippi
- The parties will develop hemp-derived products to address Peripheral Arterial Disease and Diabetic Neuropathies
- Additionally, Zelira confirmed its recent trial of cannabis formulation ZTL-103 proved the treatment was well-tolerated
- The company is planning to launch an aged care-specific chronic pain product in the U.S. this year
- Company shares last traded for 5.9 cents on July 29
Zelira Therapeutics (ZLD) has entered a trading halt ahead of a capital raise announcement.
The company’s shares will remain in a trading halt until the announcement’s release or the commencement of trading on Monday, August 3.
Most recently, Zelira entered a binding product development agreement with Cardiovascular Solutions of Central Mississippi (CVSCM).
The agreement is targeting symptoms associated with Peripheral Arterial Disease (PAD) and Diabetic Neuropathies (DPN).
PAD is the leading cause of non-traumatic amputations and DPN is the most common complication stemming from diabetes.
Zelira will develop products based on hemp-derived products that have the potential to provide improved efficacy and tolerability to address PAD and its complications.
As a result, Zelira will receive a licence fee as it exclusively owns all products developed under the agreement, while CVSCM will retain exclusive marketing rights in the U.S.
Additionally, Zelira confirmed its phase one dose-escalation trial of cannabis formulation ZTL-103 met its primary and secondary endpoints for safety and efficacy.
The formulation was given to chronic pain patients already undergoing high-dose opioid treatment.
Zelira is using the data to expand its portfolio of chronic pain products with an aged care-specific product on track to be launched in the U.S. later this year.
Company shares last traded for 5.9 cents each on July 29.