Debutant ‘pot stock’ CannPal gains NSW Govt approval for cannabis-based trials in dogs

CannPal Animal Therapeutics ASX CP1 NSW government approval cannabis trial dogs

The New South Wales Department of Health has approved CannPal Animal Therapeutics’ (ASX: CP1) application to possess and supply cannabidiol and tetrahydrocannabinol to use in its upcoming clinical trials which aim to develop its CPAT-01 drug for treating pain in dogs.

Debuting on the ASX less than two weeks ago, the animal focussed health company has scheduled its pharmacokinetic and safety clinical trials to begin in the first quarter of 2018. This latest permit allows CannPal to apply for further approvals to allow it to import cannabis for scientific research in companion animals.

On 25 October CannPal gained ethics approval to start the trials with its CPAT-01 drug. As part of the study, 48 dogs will be evaluated for safety, tolerability and clinical observations using tetrahydrocannabinol and cannabidiol.

The study has been planned in three phases and results from the first two phases are due by mid-2018.

“Receiving the authorisation to possess and supply cannabis for research from the New South Wales Department of Health is a significant milestone for the company,” CannPal founder and managing director Layton Mills said.

“It will allow us to facilitate the supply of cannabis to our research partners in order to commence the clinical phase of our development plan for CP AT-01,” Mr Mills added.

Australasia’s largest veterinary research organisation Invetus Ltd has been assisting CannPal with gaining its regulatory permits. Also under a previous agreement with Invetus, CannPal will be able to store and research its cannabidiol substances at a purpose-built animal health research facility which can house more than 100 dogs.

Earlier this week, CannPal secured an agreement with the University of Queensland to provide CannPal with bioanalytical services via its TetraQ Research Infrastructure Centre. During the three study phases, the centre will measure cannabidiol and tetrahydrocannabinol concentrations in dog plasma samples.

Current non-steroidal anti-inflammatory drugs used in treating pain in dogs have multiple side effects.

CannPal believes its CPAT-01 can offer pain relief to dogs without the side effects of current treatments.

According to the company, the non-steroidal anti-inflammatory drug market is valued at A$1.4 billion globally.

CannPal is focussed on developing medical cannabis solutions for companion animals. The company claims all mammals have biological and neurological ability to process nutritional cannabinoids which impact appetite, pain-sensation, nausea, mood and memory without side effects of current medications.

Lorna has more than 10 years’ experience as a finance journalist and editor. She has written for an array of industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has covered a myriad of small and large cap ASX and dual-listed stocks.