Cannevert Therapeutics, FDI Clinical Research Sign Agreement

Veritas Pharma’s research arm, Cannevert Therapeutics, has signed a clinical research agreement with FDI Clinical Research in San Juan, Puerto Rico, to conduct the first human study of its lead cannabis strain (CTL-X) targeting pain.

This announcement follows the previous signing of a Letter of Intent with FDI-CR to conduct a human study of CTL-X in two stages. The first stage will have an open label design to look at the feasibility of two doses of CTL-X in 5 subjects while the second stage will use a randomized, double-blind, crossover design to assess one dose of CTL-X against a placebo control strain in 16 subjects who will be exposed to various modalities of acute pain.

Prof. Michael Walker, president of Cannevert Therapeutics said, “Cannevert is pleased to have CTL-X investigated by FDI’s clinical researchers, who are experienced in evaluating all types of treatments for pharma and biotech. We want their help in providing physicians and patients with the best possible scientific evidence for CTL-X as well as our future cannabis therapies.” 

Veritas intends to have a branded analgesic strain in which its dose and method of administration are standardized to actively compete with over-the-counter pain relievers as well as to potentially reduce or eliminate opioid use in the acute and chronic pain markets.

Most of the significant pharmaceutical companies have used Puerto Rico as a manufacturing or outsourcing base due to its established infrastructure, highly skilled labour force, popular tax incentives, and immediate access to the US market.  Around 60% of Puerto Rico’s export value is pharma-related and over 25% of the country’s GDP comes from the pharma industry.