Ananda Developments - Endometriosis Trial Drug Supply Agreement Signed

28 February 2024

ANANDA DEVELOPMENTS PLC 

("Ananda", the "Company" or the "Group") 

Endometriosis Trial Drug Supply Agreement Signed

Ananda Developments plc (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, is pleased to announce that its wholly owned subsidiary MRX Medical Limited ("MRX") has signed a Drug Supply Agreement ("DSA") with the University of Edinburgh ("UOE") and NHS Lothian, for the provision of MRX1 cannabidiol ("CBD") oil to UOE and NHS Lothian's endometriosis clinical trial, ENDOCAN-1: A Pilot Randomised Controlled Trial of the Efficacy of a Cannabinoid Oral Tincture in the Management of Endometriosis-Associated Pain.

Highlights

·      As announced on 9^th March 2023, UOE and NHS Lothian plan to lead a Randomised Controlled Trial ("RCT") on the use of CBD versus placebo in the treatment of endometriosis.

·      MRX's patent pending MRX1 CBD oil formulation will be used as the Investigative Medicinal Product ("IMP") in the trial. MRX will supply the MRX1 CBD formulation and matched placebo.

·      MRX has been granted a licence over all arising (generated from the trial) Intellectual Property ("IP") for internal research and development purposes, as well as an option to licence the arising IP for all commercial purposes, subject to funder's approval. MRX will maintain full ownership of all IP as relates to the IMP and Placebo.

Ananda's CEO, Melissa Sturgess commented: "The drug supply agreement provides the legal framework for the provision of MRX1, our patent pending cannabinoid medicine, to the endometriosis randomised controlled trial. Importantly it also confirms that MRX retains full IP ownership of the medicine."

The RCT, funded by a £300,000 non-dilutive grant from the Chief Scientist Office in Scotland, will be led by Dr Lucy Whitaker, a Senior Clinical Research Fellow at the Centre for Reproductive Health, University of Edinburgh. Subject to final approvals, the pilot trial will assess the feasibility of running a further nation-wide trial on the use of CBD versus placebo in the treatment of endometriosis-associated pain. The study will be located at NHS Lothian and NHS Grampian with a 100‑patient recruitment plan.

Endometriosis is a condition where tissue similar to the lining of the uterus grows outside the uterus. It can cause severe pain in the pelvis and make it harder to get pregnant and currently the only treatments are surgery, hormonal treatment or pain killers. Globally, 10% of women are thought to suffer from Endometriosis and the market was valued at $1.05bn in 2020 and is expected to achieve CAGR of 9.6% from 2020-2030 

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-Ends-

The Directors of the Company accept responsibility for the contents of this announcement.

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About Ananda Developments

Ananda is an AQSE-listed company whose ambition is to be a leading provider of cannabinoid-based

medicines for the treatment of complex, chronic inflammatory pain conditions.

For further information on the Company visit https://anandadevelopments.com/ or sign up at https://investors.anandadevelopments.com/s/a66906.

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