- Emryia (EMD) enters an agreement with Aspen Australia for the licensing and commercialisation of its EMD-RX5 medicine
- EMD-RX5 is Emryia’s first ultra-pure CBD capsule that treats mild stress and anxiety for patients with chronic health conditions
- Aspen Australia will provide funding and resources to support the development and regulatory approvals for EMD-RX5 in Australia — currently in phase three clinical trials
- EMD-RX5 has a large potential patient market, with chronic pain affecting around 2.8 million adults in Australia
- Shares in EMD are down 7.89 per cent and trading at 17.5 cents at 11:41 am AEST
Emyria (EMD) has entered an agreement with Aspen Australia for the licensing and commercialisation of its EMD-RX5 medicine.
EMD-RX5 is Emyria’s first ultra-pure CBD capsule that treats mild stress and anxiety for patients with chronic health conditions.
The aimed soon-to-be over-the-counter (OTC) treatment is currently in its phase three clinical trials.
“Emyria expects to become one of the first companies to register a CBD product for the rapidly emerging Australian OTC market, thanks to our innovative product and registration strategy,” Emyria Managing Director Dr Michael Winlo said.
The EMD-RX5 potential patient market is large, with mild anxiety and stress affecting up to 15 per cent of the Australian adult population, more prevalent in patients with chronic disease, including chronic pain.
Chronic pain affects around 2.8 million adults in Australia.
The company believes there exists potential to address a “significant” unmet need in the OTC market.
Aspen has agreed to provide funding and resources to aid the development and regulatory approvals process for EMD-RX5 in Australia.
Aspen will obtain the exclusive rights to market, sell and distribute EMD-RX5 across the country. Aspen Australia is one of the nation’s leading pharmaceutical companies.
“We are excited to continue this tradition by partnering with Emyria and supporting the registration and commercialisation of their unique product with large potential in the Australian market,” Aspen CEO Trevor Ziman said.
Under the arrangement with Aspen, Emyria will receive a royalty of up to 10 per cent based on annual net sales, with aggregate milestone payments of $400,000 for satisfying agreed milestones.
Additionally, Aspen will have full GMP manufacturing capabilities at its site in Dandenong, Victoria, and also have the first right of refusal to sell and distribute EMD-RX5 for OTC indications in New Zealand.
Shares in EMD were down 7.89 per cent and trading at 17.5 cents at 11:41 am AEST.