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Health House grows European presence with historical cannabis study

8 November 2021
ASX: HHI
Jack Baker

Health House International will support its expanding reach into the European health care sector with a German-based study to develop a deeper understanding of the medical benefits of medicinal cannabis amongst health care professionals.  

The Australian company announced its expansion into Europe’s largest medicinal cannabis market earlier in the year, acquiring German medicinal cannabis company CanPharma and its ambitious chief financial officer, David Atwood – elevating him to CEO of the merged organisations.  

Using the products of its 100 per cent owned subsidiary CanPharma, the Perth-based company will survey 600 patients to improve clinical evidence for the use and effectiveness of its medicines regarding the effects on quality of life, safety, and tolerability.  

The open, prospective, non-interventional study begins now and will run for two years, with the first interim results expected in about six months.  

Attwood says the study would provide valuable information to help doctors make more informed therapeutic recommendations involving medicinal-cannabis therapies to their patients.  

“Due to the limited historical data on the medical use of cannabis, there is often uncertainty when it comes to prescribing. Optimal patient care needs medical progress as well as professional education,” he said.  

Dr Henrik Spengel, chief executive of CanPharma and executive director of Health House, said that cannabis treatment must be tailored to patients’ individual needs and spoke of the importance of the study to treatment.  

“Gaining knowledge about the safety and tolerability of our cannabis extracts under everyday conditions is an important task that will drive the confidence of medical professionals in prescribing. We are pleased and proud to be doing pioneering work here and to be driving the acquisition of scientific data.” 

The study, run by Kalapa clinic, an independent part of the Health House group, has years of in-depth experience and expertise in Europe’s first medical cannabis counselling centre. 

The company’s Australian Stock Exchange—listed share price opened trading at 9c (7 am UTC+ 8 hours). 

COMPANY OVERVIEW

Health House International Limited (formerly VPCL Limited) is an ASX listed international distributor of medicinal cannabis and was founded to pursue opportunities in the burgeoning global medicinal cannabis market, which in March 2021 completed a reverse takeover after successfully raising $3.5 million under a public offer. Since 2014, the Board and founding shareholders of the Company have been pioneers in the medicinal cannabis sector establishing a number of publicly-listed companies including AusCann Group, Zelira Therapeutics and CannPal Animal Therapeutics.

COMPANY INFORMATION

ASX: HHI

Website

https://healthhouse.com.au/
https://www2.asx.com.au/markets/company/hhi

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