CannPal Animal Therapeutics this morning said it plans to seek approval from the Food and Drug Administration (FDA) for its cannabis-derived pet pharmaceuticals. The pharmaceutical-focused animal health company recently raised AUD $6 million (USD $4.66 million) in an initial public offering. Additionally, the company is expecting to be listed on the Australian Securities Exchange (ASX) with the proposed ticker code CP1. Cannpal’s lead drug candidate, CPAT-01, is a cannabis-derived drug being developed for the safe and effective treatment of pain in companion animals, initially targeting Osteosarcoma pain in dogs. CannPal has entered into an exclusive master research agreement with Invetus Limited, Australasia’s largest veterinary research organization, to carry out the clinical studies. The company’s three phase studies will contain over 48 dogs and is planned to begin in early 2018. “With the pedigree of our team, we are confident that following the success of our clinical trials, we will be able to successfully gain regulatory approval for our cannabinoid-derived animal therapeutics and bring them to market,” CannPal founder and managing director Layton Mills stated in the news release.
For more information, visit the company’s website at www.CannPal.com
About CannPal Animal Therapeutics
CannPal Animal Therapeutics Limited (proposed ticker code ASX: CP1) is a pharmaceutical-focused animal health company researching the benefits of medical cannabis for companion animals. CannPal is researching and developing medicines derived from cannabinoids to provide veterinarians with clinically validated and standardised therapeutics to treat animals in a safe and ethical way. CannPal has identified a significant opportunity to benefit from the rapidly growing medical cannabis and health markets by developing innovate therapeutics derived from the cannabis plant. The company is working closely with regulatory authorities and veterinary research organisations conducting clinical trials to commercialise therapeutic products that will meet regulatory approval and support the health and well-being of companion animals.
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