Newly renamed Ananda Pharma Plc (AQSE:ANA) this week joined the Proactive studio to talk about the company’s progress toward cannabinoid-based pharmaceutical development, with significant advancements in clinical trials and funding.
Ananda chief executive Melissa Sturgess detailed ongoing collaborations with experts in chemotherapy-induced pain, endometriosis, and rare forms of refractory epilepsy.
These partnerships have secured grant funding for two Phase 2 and two Phase 3 clinical trials, with patient dosing expected to commence in 2025. Sturgess described this as a “strong position” supported by non-dilutive government funding and a dynamic internal team.
Here we take a closer look at what was said.
Proactive: Melissa, good to speak with you. Your change of company name from Ananda Developments to Ananda Pharma takes effect on Aquis from today, highlighting how you've progressed as a company.
Melissa Sturgess: Thank you. Actually, that's the first time someone has said Ananda Pharma to me. It sounds good. Very happy about that.
I think the name change reflects where we have come over the last few years.
The cannabis industry, for want of a better word, has been evolving, and we've chosen a very clear path, which is drug development.
We believe that is going to be the best way for us to deliver returns to our shareholders and to get cannabinoid-based pharmaceuticals into patients who desperately need them, not only here in the UK but globally, particularly in the US—a very big market for cannabinoid medicines.
Proactive: Take us through your programs and how they are progressing to get you to this stage.
Melissa Sturgess: We've been fortunate to collaborate with some important key opinion leaders in chemotherapy-induced pain, endometriosis, and now in rare forms of refractory epilepsy.
Through those relationships, we've been able to access grant funding from the government and the NHS. This has put us in a strong position.
We have two Phase 2 and two Phase 3 clinical trials, with patient dosing expected to start in 2025. These trials are funded by the government, which is a good combination of the right partners, our dynamic drug development team, and non-dilutive funding.
Shareholder support has also been crucial.
Proactive: And looking at the support of your shareholders, you recently announced a £150,000 investment by new investors who approached the company, wanting to buy into your strategy. That followed a £2 million fundraising round back in September.
So clearly, you do have their support.
Melissa Sturgess: Yes, it was very heartening to be approached by shareholders who had looked at the company earlier and decided now was the right time to invest.
The £2 million fundraising in September was very well-supported, mostly by our chairman and largest shareholder.
That demonstrates the courage of his conviction in the road we’re on.
This funding puts us in a strong position to get these trials up and running and start patient dosing in 2025. It also gives us the resources to begin regulatory work and engage in meaningful dialogue with regulators here and globally, preparing for licensing.
Proactive: So what does 2025 hold in store, both for the industry and for Ananda Pharma?
Melissa Sturgess: I think we’re going to see the next level.
We’ve hit a bit of a plateau in the industry. Cultivation is happening globally, including in the UK, but differentiating products remains a challenge unless they are licensed.
The massive prescribing of Epidiolex in the US, which will become a blockbuster drug in 2025 with $1 billion in sales, highlights the importance of licensed cannabinoid medicines.
I think the industry will realize that pharmaceutical drug development is the way to help patients and deliver returns to shareholders.
This is the most optimistic I’ve been about Ananda Pharma’s journey.
Proactive: I look forward to many conversations in the new year. Melissa, congratulations again on the name change and have a good festive season if we don’t speak before then.
Melissa Sturgess: Thank you. Merry Christmas and Happy New Year. Let’s bring it on.