On 9 March, Ananda Developments made a major acquisition with the purchase of MRX Global, a move that is set to accelerate growth and revolutionise its offering.
The £2M deal will see Ananda gain access to a MRX Global's proprietary method to formulate cannabis medicines, the first of which, MRX1, is to be used in two Phase II Randomised Controlled Trials (RCTs) to investigate the effectiveness of cannabidiol (CBD) in chemotherapy induced peripheral neuropathy (CIPN) and in patients with endometriosis.
Clinical trials
The acquisition gives Ananda the rights to £1.55 million of grant funding for the trials which are being carried out by researchers at the University of Edinburgh. If the RCTs produce successful outcomes, Ananda believe that there is potential for MRX1 to be made available as a CBPM via the NHS.
MRX1 and MRX2, MRX’s second formulation, will also be launched as unlicensed CBPM’s (Cannabis Based Products for Medicinal use) in the coming months.
Ananda’s CEO, Melissa Sturgess commented:
“UK regulators and prescribers have made it clear that evidence for cannabis-based medicines is required to enable them to be prescribed on the NHS. We believe that the acquisition of MRX gives Ananda the opportunity to provide that evidence.
MRX also has the potential to deliver near-term revenues for Ananda, through the sale of MRX’s formulations, which are ready for launch as unlicenced CBPMs. Our ambition, over time, is to manufacture MRX’s oils from flower grown at our own facility in Lincolnshire and we continue work to make that happen.”
Ananda Developments has a dedicated cultivation facility in the UK and the organisation is working towards application to grow for commercial purposes.
Working with leaders in medical cannabis
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