Street Calls of the Week
LONDON - Ananda Pharma PLC (AQSE:ANA, OTC:ANANF) announced Friday it has terminated its relationship with the contractor supplying formulations for epilepsy studies at University College London (UCL) and Great Ormond Street Hospital (GOSH).
The biopharmaceutical company said it received formal confirmation from UCL that it is no longer involved in the epilepsy studies. According to Ananda, the contractor has been unable to fulfill its obligations to UCL/GOSH, which is now seeking an alternative supplier.
With first patient dosing for the epilepsy program not expected until 2027 and results unlikely before 2029, Ananda will redirect its resources to its lead program: the patent-pending MRX1 formulation for treating pain associated with endometriosis and chemotherapy-induced peripheral neuropathy (CIPN).
"While it is disappointing that the epilepsy programme has stalled, this outcome allows us to focus our resources where the opportunity is strongest and the path to market is clearer," said Melissa Sturgess, CEO of Ananda, in the press release statement.
The company noted that endometriosis affects approximately 190 million women worldwide with limited effective treatment options. Ananda’s endometriosis research is funded by NHS Scotland, while its work on chemotherapy-induced peripheral neuropathy is supported by NIHR.
Ananda Pharma is a UK-based company developing regulatory-approved cannabidiol medicines for complex, chronic conditions. The company is led by former GW Pharmaceutical executives and works with scientists at the University of Edinburgh.
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