Botanix Pharmaceuticals Ltd www.botanixpharma.com/
Botanix Pharmaceuticals Ltd (ASX:BNE) is listed on the Australian Securities Exchange.
Botanix Pharmaceuticals Ltd secures synthetic cannabidiol to treat acne Monday, August 01, 2016 by Proactive Investors
(ASX:BOT) has secured a supply of synthetic cannabidiol manufactured by its U.S.-based partner, to be used for the company’s BTX1503 acne treatment product.
Botanix raised $3.5 million at $0.02 per share, and since listing on July 13 its price has climbed, last trading at $0.046.
Cannabidiol is a phytocannabinoid derived from Cannabis, which is devoid of psychoactive activity, with analgesic and anti-inflammatory activities.
Unlike cannabidiol sourced from natural extracts, pharmaceutical grade synthetic cannabidiol is of high purity and does not vary in strength or composition due to growing conditions or genetics of the source plant.
This represents a significant advantage for Botanix products, as the company will not be required to comply with the extensive controls by FDA that apply to natural cannabidiol extract based products.
The commercially synthesized cannabidiol will be used in Botanix’s lead development program for its BTX1503 acne treatment product.
Botanix’s approach of using a drug substance which is already filed with FDA and has achieved high purity standards, satisfies an important hurdle for the eventual FDA approval of BTX1503.
The company plans to advance the first of its products for the treatment of acne into clinical trials in humans in Australia by early 2017.
Acne is one of the most common skin diseases in the world, and in 2013 it was reported to cost more than $2.3 billion in prescriptions.
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