CBD Science Group will research, develop and make commercially effective, plant-based, cannabinoid medicines available as a treatment for patients suffering from cancer-related pain in the UK. The company is raising up to £2 million to support the financing of working capital and clinical trials, the latter of which is due to commence in Q2 2022.
At present there are an estimated 3 million people suffering from cancer in the UK, with 1,000 new patients diagnosed daily. 33% of those who suffer from cancer pain are currently undertreated. For patients that do not have medical contraindications, current treatments are ineffective and inflict severe side effects. These are patients already in a vulnerable condition suffering greatly. The opioid epidemic is fast becoming a serious cause for concern in the UK. Opioid painkillers are seen to induce side effects such as nausea, drowsiness, muscular pain and anxiety. Their addictive nature is causing repeated misuse and ultimately have been shown to trigger substance use disorders (SUD). Plant-based cannabinoid medicines present a real solution to this real issue, and provide a great opportunity to deliver a safe and effective pain treatment for those who with urgent and unmet needs.
CBD Science Group has identified this unmet medical need and has initiated Real-World Evidence (RWE) clinical trials. Under the guidance of a leading Clinical Advisory Board, overseen by former NHS Deputy Medical Director, Professor Mike Bewick, the company will launch its Real World Evidence (RWE) trial. Under the trial, evidence will be gathered on cancer patients suffering from chronic pain where current treatments are ineffective. Patient-level clinical evidence will be used to assess the value of treatments based on real health outcomes in the Real World setting.
The clinical trial will take place over 3-4 months, after which NHS Hospital Trusts are obligated to pay for ongoing treatments with anticipated annual revenues of £3.6 million for every 1,000 patients. The estimated patient pool is greater than 650,000 patients in the UK with patient recruitment for the trial commencing in Q4 2021. Confirmed hospital research centres include Royal Marsden Trust (Europe’s Leading Cancer Centre), Birmingham, Manchester, Belfast and Leeds. Promising discussions with Glasgow, Cardiff, St Thomas & Guys and Nottingham are ongoing as CBD Science seeks to further expand operations across the UK.
Highly sought-after endorsements have been received from a number of key industry bodies, including, the National Cancer Research Institute (NCRI), the Medicines and Healthcare product Regulatory Agency (MHRA), Northwest EHealth (NWEH), and the Royal Marsden Trust.
Medicinal cannabis has been legal in the UK since November 2018. The market is large and growing, with Prohibition Partners estimating a total medicinal cannabis market value of £7.7 billion by 2028. A number of companies are already seeing success in this new market, including the largest UK-based cannabinoid company, GW Pharma, which was recently acquired by Jazz Pharmaceuticals for £5.3 billion.
Our Real-World data approach will give us a competitive edge in the UK cannabinoid market, enabling us to work with regulators and inform their decision-making, as well as offering accelerated access to pain medicine for patients with urgent and unmet needs.
Still want to know more?