Zelira Therapeutics has licensed its proprietary cannabinoid formulation to Levin Health for a chronic pain treatment clinical trial on retired athletes.
Levin Health, a Melbourne-based medical cannabis company, will sponsor the trial, which will test the efficacy of the formulation in treating sports-related chronic pain experienced by retired professional and amateur athletes, Zelira said today.
Studies have shown retired athletes are more likely to suffer from chronic pain and conditions such as depression and anxiety as a result of years of injuries and physical exertion. While clinical data is limited, Zelira said industry experts believe that medicinal cannabis may provide a safe and effective targeted treatment option, which the clinical trial with Levin Health will address.
Zelira will receive a management fee to design and project manage the study, to be undertaken at La Trobe University’s Sport and Exercise Medicine Research Centre in Victoria.
“This collaboration demonstrates Zelira’s world class formulation and expertise in fast tracking drug development,” Zelira’s managing director Dr Oludare Odumosu said.
“This partnership also leverages Levin Health’s mission to impact chronic pain treatment approaches. We look forward to creating and validating a proprietary product that will help treat chronic pain.”
ASX-listed Zelira will hold marketing rights for North and South America while Levin Health will hold rights to all other world markets. Profits from the commercialisation of products from the formulation will be shared.
The contract, which starts from June 3, is for the duration of the clinical trial and may be extended.
The licensing and project management agreements will utilise Zelira’s intellectual property portfolio and expertise in clinical trial design for medicinal cannabis, along with Levin Health’s advisory team and network of retired professional athletes.
They are expected to expand and complement Zelira’s interests in chronic pain treatments while maintaining its focus on the global growth of its proprietary insomnia and HOPE products.
Founded in 2003, Perth-based Zelira has a portfolio of therapeutic medical cannabis products, including two revenue-generating proprietary formulations, and a pipeline of candidates undergoing clinical development.
The company’s agreements with Levin Health are expected to provide an opportunity to build a leading international brand, supported by clinical data that will address a specific and widespread unmet global medical need.