RCS - Seed Innovations Ltd - Investee Company Update: Avextra AG

Seed InnovationsAnnouncement

24/01/2024 07:15

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RNS Number : 6864A  Seed Innovations Limited  24 January 2024

24 January 2024

 

SEED Innovations Limited

("SEED" or the "Company")

Investee Company Update: Avextra AG

 

SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies to which, in normal circumstances, they have limited access
to, is pleased to note the announcement released by its portfolio company,
Avextra AG ('Avextra'), a German-based, European vertically integrated medical
cannabis company.

SEED remains a holder of 2,242 shares in Avextra representing approximately 3%
of Avextra on a fully diluted basis.

The following extract from the announcement is set out without material
changes or adjustments and the announcement in full can be accessed from the
following link:

https://www.globenewswire.com/news-release/2024/01/23/2813771/0/en/German-Pain-Association-DGS-and-Pharmaceutical-Company-Avextra-Join-Forces-to-Launch-Their-New-Study-OCEAN.html
(https://www.globenewswire.com/news-release/2024/01/23/2813771/0/en/German-Pain-Association-DGS-and-Pharmaceutical-Company-Avextra-Join-Forces-to-Launch-Their-New-Study-OCEAN.html)
 

Start of Avextra AG announcement:

23 January 2024

 

German Pain Association (DGS) and Pharmaceutical Company Avextra

Join Forces to Launch Their New Study OCEAN

Highlights

·      Avextra, the German pharmaceutical company focused on
Cannabis-Based Medicines (CBM) and the German Pain Association (DGS), the
leading physicians' society dedicated to chronic pain therapy, jointly
announces their collaboration to support patients suffering from
Chemotherapy-induced neuropathic pain (CINP).

·      CINP causes persistent pain and numbness symptoms in 60-80% of
oncology patients undergoing cancer treatments, significantly impacting their
quality of life.

·      For the next 18 months the two organisations aim to investigate
the efficacy and safety of Avextra's THC/CBD full-spectrum extract in
approximately 400 CINP patients in over 20 DGS centres throughout Germany in a
real-world environment.

·      OCEAN marks the next project in Avextra's Alliance for
Evidence-based Cannabis Medicine dedicated to conducting studies within the
framework of exclusive partnerships using diverse galenic forms to address
indications with significant unmet patient need.

 

BENSHEIM, Germany, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Avextra AG ("Avextra" or
the "Company"), a leading European vertically-integrated manufacturer and
developer of pharmaceutical cannabis-based medicines (CBMs) located in
Germany, is proud to announce a joint study with the German Pain Association
(DGS) focused on Chemotherapy-induced neuropathic pain (CINP). The study which
is being conducted under the name of OCEAN is the next initiative as part of
Avextra's Alliance for Evidence-based Cannabis Medicine. Initial studies
indicate that cannabis-based medicine (CBMs) could be a promising indication
for neuropathic pain conditions, including CINP. However, as is often the case
in the field of cannabis medicine, reliable evidence is lacking for this
vulnerable patient population. Avextra is proud to collaborate with the German
Pain Association (DGS) on their OCEAN study and address the research gap.

CINP is an independent pain disorder resulting from the toxic peripheral nerve
damage caused by chemotherapy agents in the course of the treatment. The
real-world study aims to investigate whether a full-spectrum cannabinoid
extract could be a suitable therapeutic addition to alleviate the symptom
burden of chemotherapy patients.

OCEAN is a prospective 12-week parallel group observational study utilising
Avextra's own balanced 10:10 (THC:CBD) Cannabis extract conducted under
real-world conditions with 400 adults suffering from CINP. OCEAN will evaluate
a number of factors including pain intensity, pain-related impairments, sleep
quality and the phenotypes of neuropathic pain. Upon completion, the study
results will contribute to a more precise understanding of the treatment
requirements for the patients affected, offering valuable insights to inform
the design of a future Phase III clinical trial.

"OCEAN is a unique and promising opportunity to gain valuable patient data
aimed to improve the quality of life for CINP patients. We are delighted to
partner with the DGS to collect real-world evidence in Germany throughout this
study. This initiative is an important part of our Alliance for Evidence-Based
Cannabis Medicine, with a significant goal of developing cannabis-based
medicines tailored to address specific indications, ultimately providing
symptom relief to a broader patient population," explains Dr. Bernhard Babel,
CEO of Avextra.

The OCEAN study is now underway. "Our association has gathered valuable
experience in treating chronic pain patients with cannabis-based medicines.
Together with Avextra, we aim to investigate the efficacy and safety of a
THC/CBD full-spectrum extract 10mg/10mg in comparison to a non-cannabis-based
comparative therapy amongst the large patient population suffering from
neuropathy as a result of chemotherapy. This prospective, 12-week parallel
group study is designed as a non-interventional approach," states DGS
President, Dr. med. Dipl. Lic. Psych. Johannes Horlemann. "There is a large
unmet need for neuropathic pain therapy amongst patients after undergoing
chemotherapy. Because success of the chemotherapy is often the main focus,
patients often do not address their pain symptoms in subsequent physician
consultations. Standard medications for neuropathic pain provide little or no
relief. A study is therefore essential to determine how pain and the
accompanying symptoms can be improved by a THC-CBD full-spectrum extract. We
are looking forward to the results," summarises Dr. med. Dipl. Lic. Psych.
Johannes Horlemann.

Avextra is focused on creating cannabis-based medicines "CBMs" that will
gather the necessary evidence to support the use of unregistered CBMs and
expedite the development of Registered Cannabis-based Medicines. The Company
is committed to transparency, and as such, the trials and study results will
be shared with the scientific community and regulatory authorities,
contributing to the collective knowledge of cannabinoid-based therapies. The
company is dedicated to working in collaboration with the medical community,
regulators, and other stakeholders to drive evidence-based innovation forward.

End of Avextra AG announcement:

-Ends-

For further information on the Company please visit:  www.seedinnovations.co
(http://www.seedinnovations.co/)  or contact:

 Ed McDermott      SEED Innovations Ltd         E: info@seedinnovations.co

 Lance de Jersey
 James Biddle      Beaumont Cornish Limited,    T: (0)20 7628 3396

 Roland Cornish    Nomad
 Isabella Pierre   Shard Capital Partners LLP   T: (0)20 7186 9927

 Damon Heath       Broker
 Ana Ribeiro       St Brides Partners Ltd,      E: seed@stbridespartners.co.uk

 Isabelle Morris   Financial PR

Notes

Seed Innovations Ltd

SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.

About Avextra AG

Avextra is one of Europe's leading vertically integrated suppliers of
high-quality cannabis-based medicines. Founded in 2019 and based out of
Germany, the company focuses on the production of precisely formulated
cannabis-based medicines. Avextra controls the entire value chain - from
cultivation in Portugal to EU-GMP certified extraction and manufacturing in
Germany. Avextra operates across continental Europe through an expansive
distribution network of multiple channels and assets strategically developed
for these key markets.

 

 

 

 

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