Medlab Clinical completes its depression trial using its cannabinoid drug NRGBiotic.
Medlab Clinical (ASX:MDC) has just announced the completion of its depression trial being conducted at Queensland University of Technology (QUT).
The depression trial was carried out using an MDC product which was already in the market, NRGBiotic™. NRGBiotic™ is a multi-patented probiotic that can be accessed through Australian Pharmacies.
The company initially announced the trial in July 2018 and intended to enlist 150 participants, however, MDC closed the trial early at 120 patients, due to a "distinct trendline" or general pattern noticed in the blinded trial data. Medlab's Depression trial was HREC approved by the Queensland University of Technology, Office of Research Ethics and Integrity in accordance with CTN guidelines entered onto the Australian, New Zealand Clinical Trial Registry.
The study was designed to follow on from previous trials that looked into the use of NRGBiotic™ versus placebo as an adjuvant to an SSRI and or SNRI for people diagnosed with untreatable depression. To date, the depression trial has received $75,000 in government grants, which the company states "attests to the relevance of the trial and community needs."
Dr Sean Hall, CEO of MDC said, "personally in light of the COVID impact today, I am very pleased we have been able to fulfill our research duties with minimal interference to participants, and whilst the intervention stage is completed, the trial cohort will for the next 3 months focus on testing outcomes and independent analysis of those results."
The completion of a randomized placebo-controlled study with patients diagnosed with major depression unresponsive to standard pharmaceutical medications is a significant milestone achievement for Medlab's research group.Professor Luis Vitetta, Director of Medical Research at MDC
Prof. Vitetta continued, "We look forward to the independent analysis of the data that will provide important links between the gut bacteria cohort, blood metabolites, and mood; and the level of treatment efficacy achieved for depression with a Medlab patented formulation."
Medlab mentioned in the latest press release that completing the depression trial will be central to the business as MDC attempts to manage the company's exposure to COVID and mitigate any potential economic impact that coronavirus may have.
The global adjunct to depression treatment market was worth an estimated USD $864 million in 2015, which is expected to climb to $1.2 billion by 2024. The depression market itself is estimated to be worth $15.6 billion USD, growing at a CAGR of 2.4%.
The continued advancement of the depression trials represents Medlab's continued efforts to move toward further commercialization opportunities which will arise from drug registration.
The results of Medlab's depression trial are expected to be independently reviewed published over the next three months. To learn more about Medlab Clinical, visit the company HQ here.
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