Australian company CannPal Animal Therapeutics Limited (ASX:CP1) has announced it has received the first import of its first medical cannabis oil formulation, and dosing of dogs is expected to begin this week.
The oils, which arrived at CannPal’s purpose-built research facility in Sydney, will be used in the clinical phase of research for the Company’s lead drug candidate, CPAT-01. Canada’s Aphria Inc. is providing the clinical trial material for CannPal’s studies.
CannPal received ethics approval for a large pharmacokinetic and safety study in dogs involving THC* and CBD in October last year.
11 dogs have been enrolled for phase 1 and 48 dogs for phase 2. Researchers will be assessing the pharmacokinetic and safety profiles for CannPal’s cannabinoid formulations and blood sample analysis is expected to be completed by next month.
CannPal hopes CPAT-01 will prove to be an effective alternative to Non-Steroidal Anti-Inflammatory (NSAID) drugs. According to the company, it’s estimated more than 60% of dogs between the ages of 7 and 11 years will experience arthritis and as in humans, some NSAID medications can have negative side effects such as nausea, appetite loss, depression and internal bleeding.
In other recent news from the company, CannPal announced last month it had engaged Dr Jeffrey Sherman to assist it in the development of its cannabis-derived medicines. Dr. Sherman has an animal health background and significant knowledge of the endocannabinoid system.
If CPAT-01 is a success, the potential market is huge, with an estimated 4.8 million dogs in Australia, 63 million dogs across Europe and 89.7 million in the USA, plus large populations in other countries throughout the world.
In addition to dogs, CannPal is also seeking to develop cannabis-based medicines for cats.
According to CannPal’s prospectus, the worldwide animal health sector was valued at US$23.9 billion as at 2015 – and the global companion animal sector comprises 41% of this.
* Dogs are particularly sensitive to cannabis products that contain the psychoactive cannabinoid THC (tetrahydrocannabinol) and it should not be administered without the supervision of an appropriately qualified person. While CBD appears to be well-tolerated, it also shouldn’t be administered without expert advice. Learn more about THC and CBD in pets.