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CannPal Animal Therapeutics Ltd

CannPal Animal Therapeutics receives approvals for two clinical studies

CPAT-01 is CP1’s lead pharmaceutical product and is derived from cannabinoids.

dog sleeping
CPAT-01’s market is estimated to be worth US$1 billion globally

CannPal Animal Therapeutics Ltd (ASX:CP1) has received two key ethics approvals to progress the research and development of lead therapeutic products, CPAT-01 and DermaCann.

CPAT-01 is a pain and inflammatory control being developed for dogs and DermaCann is a nutraceutical product in development to promote canine skin health.

CannPal’s phase IIa clinical study for CPAT-01 will see 60 dogs with osteoarthritis recruited from veterinary clinics across New South Wales and Queensland.

The clinical trial for DermaCann is an eight week efficacy study to explore effects and confirm safety and will see 45 dogs recruited.

CannPal hopes to complete recruitment for both studies by mid CY2019.

READ: CannPal Animal Therapeutics well capitalised as it moves towards commercialisation phase

CannPal's founder and managing director Layton Mills said: “I’m delighted that we’re moving into the second Phase for CPAT-01, within just a few months of completing our phase I research activities.

“I’m also pleased that our research and development team has been able to progress the DermaCann project plan with the same momentum via the initiation of our safety and efficacy study, which is a major milestone for our nutraceutical strategy.

“I’m looking forward to commencing our phase II pilot studies for CPAT-01 and the potential to explore commercialisation opportunities for our nutraceutical products in 2019.”

READ: CannPal Animal Therapeutics chairman buys company shares

Yesterday, CannPal’s non-executive chairman Geoff Starr purchased 80,000 shares in the company worth $10,193 via on-market trades.

Quick facts: CannPal Animal Therapeutics Ltd

Price: $0.18

Market: ASX
Market Cap: $16.3 m
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