GREENWOOD VILLAGE, Colo. & NEW YORK–(BUSINESS WIRE)–ANANDA Scientific Inc., a biotech pharma company, and NYU Grossman School of Medicine today announced a second clinical trial to evaluate the effect of cannabidiol in ANANDA’s proprietary delivery technology on opioid sparing in participants with chronic radiculopathic pain syndromes maintained on opioid therapy. An Investigational New Drug (IND) application has been approved by the U.S. Food and Drug Administration (FDA) for this trial utilizing ANANDA’s proprietary Liquid Structure™ CBD.
Pre-clinical and initial clinical studies show ANANDA’s Liquid Structure technology (licensed from Lyotropic Delivery Systems (LDS) Ltd. in Jerusalem, Israel), enhances the effectiveness and stability of CBD. This innovation creates new potential to facilitate voluntary opioid sparing and the ability to reduce opioid intake in patients being treated for chronic pain.
“Approval of a second clinical trial with this world-renowned institution further advances applications for CBD in ANANDA’s patented delivery technology in an area that could positively impact the lives of a large number of people suffering from opioid addiction. Opioids are a huge driver of overdose deaths in the U.S. and a non-addictive therapy is a significant unmet need,” said Sohail R. Zaidi, ANANDA’s President.
This trial is being conducted at NYU Grossman School of Medicine led by principal investigator Stephen Ross, MD, Associate Professor Department of Psychiatry and Director NYU Addictive Disorders and Experimental Therapeutics Research Laboratory. Funding for this trial is from National Institute on Drug Abuse (NIDA), with additional support from ANANDA Scientific.
“Expanding research on therapeutic alternatives to opioid pharmacotherapies for chronic pain disorders, such as CBD medicinal products, is critical to reversing the opioid epidemic. ANANDA’s commitment to safe, efficacious, high-quality products, paired with their groundbreaking delivery technology, creates tremendous opportunity for the development of evidence-based CBD medicinal products to reduce opioid intake and pain. We look forward to collaborating with ANANDA on this important clinical work.” said Dr. Ross.
ABOUT ANANDA SCIENTIFIC
ANANDA is a research-focused biotech company that employs patented delivery technologies to make cannabinoids and other plant derived compounds highly bioavailable, water soluble, and shelf-life stable. ANANDA is pursuing human clinical trials for pharmaceutical approval of its patented delivery technology to address therapeutic targets of significant public health importance. Consistent with its strong research-based data, the company also has a growing pipeline of nutraceutical over-the-counter products. The company has successfully launched these products in the US and the UK, with expansion into additional markets such as the EU, China, Australia and Africa planned for the near future. The company is expanding its research base through multiple sponsored research agreements with universities to diversify its technology portfolio.