The trials will assess the efficacy of Zelda’s medical cannabis-based formulation for treating sleep disorders. Zelda will be leveraging the significant amount of anecdotal evidence and data for the compounds’ effectiveness in treating sleep disorders accessed through its exclusive agreement with Aunt Zelda’s.
The sleep disorder market provides a significant opportunity for Zelda. Insomnia is estimated to impact approximately 35% of the global population and is considered to be a prime factor for chronic disability in the workforce. The global sleep aids market was valued at US$58.1 billion in 2014 and is expected to expand to reach US$80.8 billion by 2020, according to the research firm Persistence Market Research. Sleep aids are drugs and medical devices that help a person to fall asleep.
Due to the safety data already in place for medicinal cannabis extracts, Zelda is able to progress directly to human clinical trials, rapidly accelerating the time to commercialization.
Upon achieving positive results in the trial, Zelda will pursue the necessary approvals in key geographic markets to register the product and make it available for sale to consumers as an effective sleep aid.
Upon achieving positive results in the trial, Zelda will pursue the necessary approvals in key geographic markets to register the product and make it available for sale to consumers as an effective sleep aid.
Executive Chairman Harry Karelis stated:
“The sleep disorder market represents a significant opportunity for medical cannabis treatments. We believe that consumers are looking for safe, effective, affordable alternatives to current prescription medication. Our exclusive access to Aunt Zelda’s patient data has provided us with the ability to trial a formula that already has existing evidence and data to demonstrate its efficacy in this particular disorder. The purpose of these trials is to establish robust, clinical evidence and to create a comprehensive data pack that can be used to progress later stage trials and/or seek product registrations in certain markets and generate product sales in the medium term.”
25