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Global cannabis research company Zelira Therapeutics (ASX: ZLD) (OTCQB:ZLDAF) is set to being a cannabinoid-based clinical trial on chronic pain in retired professional and amateur athletes, Benzinga has learned exclusively.
The trial, which could be the first of its kind, was commissioned through a license and management agreement between Zelira and Australian operator Levin Health. Zelira will design and undertake a clinical trial on the efficacy of its proprietary ZTL-106 formulation. Successful results will allow Levin to globally market a clinically-validated formulation targeting chronic pain.
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This is the second clinical trial that Philadelphia-based Zelira has undertaken for its cannabis formulations. In 2020, the company conducted successful Phase 1/2a clinical trials for Zenivol, a cannabis-based insomnia medicine that is now approved for use and available in Australia, where cannabis for medicinal use is federally legal.
“We are thrilled with this new partnership with Levin Health,” says Zelira CEO Dr. Oludare Odumosu. “This agreement will combine Zelira’s world-class proprietary cannabinoid formulations and drug development with Levin Health’s network and mission to treat sports-related chronic pain with non-opioid, non-steroid treatment options.”
The clinical trial for ZTL-106 will be undertaken at La Trobe University’s Sport and Exercise Medicine Research Centre in Victoria, Australia.
Odumosu notes that 80% of chronic pain patients are treated for non-cancer related pain and that this type of pain is especially common in current and retired athletes as well as the growing amateur fitness-minded population.
“The success of this trial can unlock new cannabinoid-based, pharmacological treatment options for sports-related pain, which has the potential to completely change the way we treat chronic pain,” Odumosu concludes.
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Lead image by Ilona Szentivanyi. Copyright: Benzinga.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.