CannPal Receives Funding for Research Collaboration with CSIRO
Animal health company CannPal Animal Therapeutics Limited (ASX:CP1) (“CannPal” or “the Company”) is pleased to announce that it has entered into a research agreement with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) under the CSIRO Kick-Start initiative.
- CannPal has entered into a research agreement with CSIRO, as part of the national science organisation’s CSIRO Kick-Start initiative for eligible Australian SMEs (Small to Medium Enterprises)
- Under the initiative, CannPal will receive dollar-matched funding to contribute towards an eligible collaborative research project with CSIRO researchers
- Together, CannPal and CSIRO will undertake research into the use of food production technologies to enhance the delivery of CannPal’s cannabis-derived therapeutic formulations in animals
CSIRO Kick-Start was launched in April 2017, providing innovative Australian start-ups and SMEs with funding support and access to CSIRO’s research expertise and facilities. The program offers eligible businesses access to dollar-matched funding vouchers of between AUD$10,000-$50,000 to undertake the following research activities with CSIRO
- Research into a new idea with commercial potential,
- Development of a novel or improved product or process, or
- The testing of a novel product or material developed by the business
Under the initiative CSIRO and CannPal will undertake initial research into formulation work. CannPal intends to further develop new and existing delivery systems to create proprietary formulations of the Company’s therapeutic products, which CannPal management believes could provide a significant competitive advantage. CannPal is developing a range of cannabis based therapeutic products targeting companion animals, with a focus on DermaCann, a nutraceutical targeting canine skin health, and CPAT-01 in development as a veterinary medicine for pain in dogs.
We are very pleased to have received this funding voucher as part of our research agreement with the CSIRO. Our vision is to be a global leader in cannabinoid-derived therapeutics, and through this research agreement, we’re confident that we can develop added value that can significantly advance the development of our therapeutic platform