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- Release Date: 19/05/14 16:31
- Summary: GENERAL: PIL: Successful Grant Application for Clinical Trial of Arthrem
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PIL
19/05/2014 14:31
GENERAL
REL: 1431 HRS Promisia Integrative Limited
GENERAL: PIL: Successful Grant Application for Clinical Trial of Arthrem
19 May 2014
Further Successful Grant Application for Clinical Trial of Arthrem
Mr Malcolm Johnson, Chairman of Promisia Integrative Limited, announced today
that a grant application to Callaghan Innovation has been approved. The new
funding will complement the recently approved grant for in-vitro laboratory
studies of the Company's dietary supplement Arthrem. The substantial grant
will subsidize 40% of the cost to conduct a randomised controlled clinical
trial, which has received ethical approval from the New Zealand Health and
Disability Research Ethics Committees. The trial will be conducted at Dunedin
Hospital.
Commenting on the additional funding success Mr Johnson said: "The Company's
Chief Executive Officer Mr Daily and Principal Scientist Dr Sheena Hunt have
been collaborating on the development of a number of business cases that will
use evidence-based scientific data gathered from a comprehensive R&D
programme." Mr Johnson added: "This approach will underpin the Company's
growth plans both in New Zealand and overseas."
Dr Hunt stated: "There is no requirement to conduct clinical trials in
dietary supplements, however, we expect this clinical trial will provide
efficacy and safety data for Arthrem and will establish a point of difference
from other dietary supplements made from natural products where efficacy and
safety may be untested or unproven." Dr Hunt added: "The results will be
invaluable to the Company in directing further scientific, clinical research
and new product development."
Chief Executive Officer Mr Charlie Daily, who is currently based in
Washington DC, commented: "We are delighted to secure this additional funding
which will help us gather further important data on Arthrem. This further
research will strengthen the work we are undertaking in developing overseas
markets for Arthrem and add to the product's growing sales presence in New
Zealand".
Callaghan Innovation is the Crown Entity dedicated to helping businesses
build innovation capability which can contribute to a company's growth and
the broader growth of the New Zealand economy.
For further information please contact:
Mr. Charles Daily, Chief Executive Officer on (04) 894 8524
or
Mr. Malcolm Johnson, Chairman on (04) 479 3377
End CA:00250626 For:PIL Type:GENERAL Time:2014-05-19 14:31:22
