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Neurotech expands exclusive license to include all neurological disorders
3 minute read
Neurotech International Limited (ASX:NTI) has expanded its exclusive license with Dolce Cann Global Pty Ltd to now include all neurological disorders, disease or affliction affecting the human brain function, specifically - Autism, Epilepsy, ADHD, Alzheimer’s disease, Huntington’s disease, Multiple Sclerosis, Transverse Myelitis, Inflammatory Brain disease, Fibromyalgia, Chronic Fatigue and Migraine.
It comes just as the company announced that it had secured $3.56M in funding, having completed an oversubscrib ed placement of $2M (before costs). These funds will be used to execute its existing business plan including the continued development and marketing of its Mente device along with research into the use of cannabinoids to treat neurological disorders including autism and ADHD
The latest clinical research clearly validates that inflammation, and more specifically neuroinflammation - is a well-recognised common feature in all neurological disorders.
Based on the scientific data generated in Neurotech’s studies to date, its NTI/Dolce full spectrum medicinal cannabis strains reigns superior to CBD alone when it comes to its powerful, neuro-modulatory, anti-inflammatory and neuro-regulatory mode of action.
NTI/Dolce stains possess activity up to 80% more potent than CBD alone and can regulate the suppression of inflammation via the suppression of the Arginase 1 pathway and beta- tubulin regulation which is a vital protein in the management of several neurological diseases such as Alzheimer’s disease, Huntington’s disease and Multiple Sclerosis.
The global market for neurology treatments is expected to grow to $39.4 billion by 2024. Rising prevalence of neurological diseases coupled with increasing awareness associated with the disease diagnosis in developing countries is assisting the market growth.
Commenting on this license expansion, Brian Leedman, Chairman of Neurotech International said, “The amendment of the Dolce Cann Global licence provides scope for the Company to expand our research programs beyond the current program with its focus on autism in children that is due to commence later this month”.
Deed of Variation Terms
In consideration for the licensors agreeing to vary the licence deed, the Company as licensee must issue 15,000,000 shares to Dolce Global or its nominee within 45 Business Days after the date of the deed (1 March 2021), and a further 15,000,000 shares to Dolce Global or its nominee within 45 Business Days after the Company successfully completes a small-scale clinical trial based on a neurological disorder (excluding Autism, Epilepsy or ADHD) within two years after the date of this deed.
The initial tranche of 15,000,000 shares will be issued under the Company’s remaining placement pursuant to ASX Listing Rule 7.1. The Company intends to seek shareholder approval for the issue of the second tranche of 15,000,000 shares.
Neurotech to commence clinical study program
Following the company’s successful in vitro findings, Neurotech has begun designing a phase I/II study to assess the safety and efficacy of the novel NTI/Dolce strain in a paediatric population.
The company has been engaging with international clinical experts in the field of translational medicinal cannabis to also assess the efficacy of the Mente device when used in combination with the novel NTI/Dolce medicinal cannabis strains.
If successful, this combination of the cannabis strains and the Mente device has the potential to be a “world-first” in the management of neurological diseases.
Neurotech is on-track to initiate its phase I/II clinical program through Monash Children’s Hospital toward the end of this current quarter.
Read a comprehensive overview including company’s cannabis strains and development strategy: Neurotech’s key near-term objectives.