Neurotech International
Neurotech International (NTI) has engaged a health economic consultancy to conduct a cost-benefit analysis of listing its broad spectrum cannabinoid therapy, NTII64, on the Pharmaceutical Benefits Scheme (PBS) as a treatment for Autism Spectrum Disorder.
The company said the study will "greatly assist NTI in future discussions with government and private players relating to the appropriate pricing and reimbursement" of the medicine.
Prior research has indicated that early intervention in autism generates meaningful savings for the National Disability Insurance Scheme (NDIS), yet "effective drug therapies for autism are lacking," NTI stated in its Q2 FY24 financial update to the ASX.
The company believes NTII64 could address that unmet need.
NTI has already reported positive results from a phase I/II clinical trial, with outcomes from a phase II/III trial anticipated by the end of March.
"With the explosion in autism-associated costs under the NDIS there is an urgent need for new enabling treatments like NTII64 which has been shown to significantly improve adaptive behaviours and socialisation and improve these children's quality of life while reducing caregiver burden," NTI said.
The consultancy's assessment will also examine the strength, quality and applicability of the clinical evidence base ahead of a potential submission to the Pharmaceutical Benefits Advisory Committee.
Neurotech is additionally investigating NTII64 as a potential treatment for Pediatric Autoimmune Neuropsychiatric Disorders Associated with Streptococcal Infections (PANDAS), Pediatric Acute-Onset Neuropsychiatric Syndrome (PANS) and Rett Syndrome.
The company has also submitted an application for Human Research Ethics Committee approval to conduct a phase I/II trial targeting cerebral palsy.
NTI said it has sufficient funds to complete all its planned clinical trials with A$4.5m of available cash.
For the October to December quarter, the company recorded total operating expenses of $1.9m.
AusCann
AusCann is looking to raise A$1 million through a share purchase plan, under which eligible shareholders may apply for up to $30,000 worth of stock.
The company said 62.5 million shares will be offered at $0.016c each, representing a 60% discount to the last listed price of $0.04c in August 2022, when trading in AusCann shares was suspended.
AusCann said the proceeds will go toward operating expenditure, working capital, and costs related to its readmission to the ASX.
Separately, the company has extended a further €1 million (A$1.6m) loan to its WA-based partner European Cannabis Corporation (ECC) to support the rollout of a new product range for the German market.
The funding will allow ECC subsidiary HAPA Pharma to develop products including teas, tablets and prefilled joints.
"The launch of these products, alongside the release of their second batch of high-quality medical cannabis will cater to a broader spectrum of patient needs," AusCann said.
