AusCann's upcoming hard-shell capsule launch will validate the company's position as a provider of effective, reliable pharmaceutical products.
There was big news from AusCann Group Holdings Limited (ASX: AC8) today, after the company announce the completion of manufacturing and testing for its proprietary cannabinoid-based hard-shell capsules.
The capsules were developed using the same standardised validated tests employed throughout the pharmaceutical industry and were found to meet all applicable pre-defined criteria set by the Australian Therapeutic Goods Administration (TGA).
This means that the product is now ready for clinical evaluation and the company has confirmed that it is already in the process of constructing a short, commercially focused clinical trial.
We remain focused on making AusCann's capsules available for prescription to patients in Australia during the first half of 2020. Our goal is to provide high-quality medicine and to obtain detailed, data-driven evaluations regarding the outcomes of AusCann's pharmaceutical treatment. These results will build the clinical evidence supporting the unique benefits of AusCann's capsules necessary to open a large market for the Company.AusCann CEO, Ido Kanyon
The CEO of AusCann, Ido Kanyon, described the commercial rollout of its hard-shell capsule product as an important milestone for the company, as it will greatly accelerate sales revenue. And it's easy to understand why, as the release of its dose-controlled capsules will validate the company's position as a commercial producer of reliable, standardised pharmaceutical products.
"AusCann had the vision to provide patients and healthcare professionals with a high quality pharmaceutical product which addresses patients' unmet needs. AusCann's manufacturing, operational processes and test results are up to global pharmaceutical standards which is great news for patients, healthcare professionals and AusCann's investors," Kanyon said.
"Now with this stage of our R&D program complete, we are accelerating our path toward commercialisation with full confidence in our ability to consistently provide reliable, stable and standardised pharmaceutical products which address unmet medical needs. AusCann is on track for a timely delivery of all its strategic priorities."
"The first was to finalise the production, testing and packaging of AusCann's pharmaceutical cannabinoid-based products for a release to clinical evaluation by the end of 2019. This has been successfully completed on time," he said.
AusCann's sold-fill capsules offer the company's cannabis formulation in a unique delivery mechanism, with the goal of the clinical trial being to generate key data that will be used to inform dose selection.
If the trials produce positive test results, then the company will progress the product through an accelerated pathway to commercialization, along with making it available to healthcare professionals where approved under the TGA's Special Access Scheme (SAS).
AusCann currently expects to begin making its hard-shell capsules available for patients during the first half of 2020.
To learn more about AusCann visit their Company HQ here.
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