Impression Healthcare’s Incannex Pharmaceuticals has entered into a supply agreement to research and formulate four new cannabinoid drugs. Impression Health (ASX:IHL) has officially launched their cannabinoid drug discovery brand Incannex Pharmaceuticals, which will be targeting four areas of research; Gingivitis, Obstructive Sleep Apnoea, Traumatic Brain Injury and Temporomandibular Joint Dysfunction. The company is working with an EU-based cannibinoid drug design company, who, for commercial reasons hasn’t been named, to become their supply partner for the base cannabinoid materials in these four novel cannabinoid formulations.The four trials will be overseen by the CEO, Chief Medical Officer and Chairman of Cannvalate, Dr Agarwal, who is an internationally acclaimed leader in the cannabinoid-based medicine space. Dr Agarwal was appointed CEO and chairman on the 25th of July, 2019. “Impression Health and Incannex have realised that the two largest determinants of future growth for cannabis companies are patient acquisition and creation of patent-secured, novel cannabinoid products which have been scientifically validated by clinical trials. Incannex are on target to race ahead on both fronts by the end of 2019.”Dr. Sud Agarwal, CEO, Chief Medical Officer and Chairman of Cannvalate Outside of the agreement, Australia has seen a sharp rise in sales of medicinal cannabis, with sales conducted through the Therapeutic Goods Association (TGA) Special Access Scheme increasing by 229%, rising from 670 approvals in January to 2206 approvals in July.Impression Healthcare CEO and Managing Director, Joel Latham “We’ve just seen a record-breaking month for TGA approvals of cannabinoid medicines in Australia and expect to see further growth in patient numbers resulting from increased public awareness; particularly positive media coverage on patient outcomes.”Mr. Latham continued to say that “[IHL is] delighted to have forged this agreement with which we consider to be one of the highest-quality producers of GMP-approved medicinal cannabis products in the world. Further to this, the Supplier will assist us with formulating and manufacturing IP-defendable products for 2 of our clinical trials. Creating products with defendable IP provides us with a significant opportunity to develop long-lasting products targeted at specific indications.”
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