CannPal Granted Import Licence by the Office of Drug Control
- CannPal has been granted a licence to import medical cannabis by the Australian Government Department of Health’s Office of Drug Control (ODC)
- CannPal can now apply to import its cannabis formulations for clinical trials commencing Q1 CY18
- CannPal received a licence to possess and supply prohibited substances by the NSW State Department of Health earlier in November
- Leading medical cannabis supplier Aphria Inc.(TSX:APH) will supply CannPal with cannabis-derived oils for the initial phases of the research
Animal health company CannPal Animal Therapeutics Limited (ASX:CP1) (“CannPal” or “the Company”) is pleased to announce it has been granted an annual licence to import medical cannabis by the Australian Government Department of Health’s Office of Drug Control (ODC)
The licence allows CannPal to apply to import proprietary cannabis formulations for research on the Company’s lead drug candidate, CPAT-01, with a comprehensive pharmacokinetic and safety study to commence in Q1 CY18. The Company received ethics approval for the first two phases of the study and received a permit to possess and supply prohibited substances from the NSW State Department of Health earlier in November.
The permit to import will signify an important milestone for the Company as it is one of the final stages of regulatory obligations required to commence the clinical phase of the Company’s research.
CannPal is working closely with Invetus Limited, Australasia’s largest veterinary research organization, who will be storing the Company’s proprietary oils and carrying out the clinical phases of the study. The Company has entered into a research services agreement with the University of Queensland’s TetraQ Research Infrastructure Centre to provide bio-analytical services for the clinical trials.
CannPal has entered into a Memorandum of Understanding (MOU) with Aphria Inc (TSX:APH) a market leading medical cannabis supplier who will be supplying proprietary oils for this phase of the Company’s research.
CannPal’s Founder and Managing Director Layton Mills
“The granting of this import licence is a significant step for CannPal in our goal towards becoming a market leader in cannabinoid-derived animal therapeutics. It’s a major milestone that will allow us to import medicinal cannabis so we can begin the clinical phase of our research.
This licence shows that we have taken the right steps to satisfy the regulatory requirements to import and supply medical cannabis for scientific research in companion animals and we look forward to commencing our clinical studies in Q1 CY18.”