Botanix Pharma (ASX: BOT) has been awarded a $50,000 Innovation Connections Grant by the Australian Government's Department of AusIndustry to research synthetic cannabidiol.
Botanix Pharma (ASX: BOT) has just received a grant from the federal government which will help Botanix to further its research into cannabidiol, commonly known as CBD, as well as its effects and how the compound is absorbed.
CBD is currently being used to treat rare forms of epilepsy, inflammation and sporting injuries, with many researching the compound to see what other benefits it might have. However, one issue with CBD is its poor bioavailability and protein binding, as only 6% of the drug actually becomes available in the bloodstream when absorbed orally.
Botanix is currently researching cannabidiol, as well as ways to better absorb the compound, through its medicinal chemistry program that the company began last year. From its research, Botanix has developed a litany of novel cannabidiol analogs that show that cannabidiol can be enhanced without sacrificing its efficacy.
The grant, valued at A$50,000 will help Botanix pursue this research and further develop a portfolio of novel, effective cannabidiol analogs for clinical testing.
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We are very pleased that this new program has been supported by AusIndustry through the Innovation Connections Grant program and we look forward to accelerating the development and testing of these novel cannabidiol analogs over the coming months.Dr Michael Thurn, Executive Director of Botanix
The work is being conducted with the help of scientists at The University of Queensland (UQ) through their Institute for Molecular Bioscience (IMB). Botanix Executive Director Dr. Michael Thurn also commented on the collaboration with UQ:
"We are pleased to continue our partnership with Dr. Mark Blaskovich's team at The University of Queensland. Their extensive expertise in testing molecules, combined with their understanding of the mechanisms of antimicrobial resistance and state-of-the-art research facilities, will help facilitate the rapid advancement of these new drugs into clinical trials."
IMB Fellow and one of the leaders of the work Botanix will be doing at UQ, Dr Mark Blaskovich, commented on the collaboration with BOT: "We are excited to be working in collaboration with Botanix to create next-generation cannabinoids with new pharmacology and improved performance. This partnership also demonstrates that the University is engaging with industry and can assist with translational research that has a real-world impact."
Visit Botanix's company profile here.
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