Cannabis-focused healthcare company Bod Australia (ASX: BDA) has announced it will supply its pharmaceutical-grade cannabis extract MediCabilis for a landmark 12-month trial related to post traumatic stress disorder (PTSD).
The $491 drug will be prescribed to 300 participants in oil form by approved prescribers in a network managed by Bod’s research partner Cannabis Access Clinics (CAC).
Patients will bear standard treatment costs for participating in the study, and will be eligible for rebates through Medicare or private insurance.
CAC has first-hand experience in PTSD treatment using medicinal cannabis and has previously reported positive effects of the drug on patient outcomes.
The company will facilitate the trial and manage the process on behalf of Bod, from screening to recruitment.
Specialist research organisation Applied Cannabis Research will assist with data collection and patient management.
The trial is expected to begin immediately.
Bod chief executive officer Jo Patterson said the intellectual property generated from the trial will be used to pursue product development, commercialisation and licencing opportunities for MediCabilis.
“We look forward to progressing this trial as it has the potential to significantly strengthen our revenue stream, as well as further validate our product suite,” she said.
“We will be pursuing similar agreements with medical organisations and research partners to replicate this model, further underpinning revenues from this trial and medical cannabis product sales for our pharma business.”
PTSD relates to a set of reactions which can develop in people who have been through traumatic events (such as a car accident or physical assault) which have threatened their life or safety, or that of others around them.
Sufferers often experience feelings of panic or extreme fear, similar to the fear they felt during the traumatic event.
Studies estimate about 25% of people who are exposed to traumatic events develop PTSD and around 12% of all Australians will experience some level of PTSD in their lifetime.
The Australian Defence Force estimates 90% of members have experienced at least one potentially traumatic event at some time in their lives which may result in symptoms of PTSD.
In recent years, cannabis has emerged as a way of helping PTSD sufferers cope, and has been cited as a safer alternative to some prescription medications.
In November, Bod was given the go-ahead to stock MediCabilis in over 450 Chemist Warehouse stores nationwide.
At midday, shares in Bod were trading 10.20% higher at $0.27.