- Emyria will start the Phase I human clinical trials of its major ultra-pure CBD drug candidate in Q1, 2022.
- Starpharma receives an amount of AU$7.7million as a research and development tax incentive refund.
- IME’s PACS technology receives approval from the Thai Food and Drug Administration.
The ASX healthcare sector includes pharmaceutical, biotechnology companies, food and drug retailers, healthcare providers, and medical equipment suppliers. The sector has gained traction in the recent times owing to the increased demand of medical services and facilities across the globe. However, today the sector opened with a decline of 1.09% in line with the ASX200, which has also declined 1.41%.
In this piece, we bring you up to speed with the recent updates from some of the ASX-listed healthcare stocks.
A data-backed drug development and delivery company, Emyria will start the Phase I human clinical trials of its major ultra-pure CBD drug candidate, the EMD-RX5. Emyria has previously achieved successful trial results with this CBD formulation on animals.
EMD is an oral CBD formulation and is expected to be a candidate drug in treating many clinical conditions. The trial will compare the safety and bioavailability of EMD-RX5 to that of Epidyolex. Epidyolex is the only TGA- and FDA-approved CBD medicine to date. The trial will start in Q1, 2022, at CMAX Clinical Research.
EBR specialises in developing a wireless cardiac pacing system for heart failure. EBR Systems' WiSE technology is the only wireless pacing system in the world in clinical use for stimulating a heart's left ventricle.
EBR joined the ASX on 24 November 2021 with an initial public offering (IPO) that provided AU$110 million to the company. As of 31 December 2021, EBR had a solid cash position of AU$107.81 million. The available balance is in a position for funding future studies, submission of FDA approval, and early commercialisation.
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Australian Pharmaceutical deals in wholesale distribution of pharmaceuticals, related products and support services in retail to pharmacists. It also specialises as a health and beauty services retailer.
API reported a revenue of AU$4 billion and an underlying Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of AU$158.4 million for FY21. Pharmacy distribution contributed to the revenue of AU$3.011 billion with a gross profit of AU$217 million.
Starpharma focuses on the development of dendrimer technology for pharmaceutical, life science and other applications.
SPL has received an amount of AU$7.7million as a research and development (R & D) tax incentive refund. The refund is under the Australian Government's R&D Tax Incentive scheme for supporting R&D. In FY2021, SPL also received AU$1 million funding from the Australian government to develop its antiviral nasal spray "VIRALEZETM".
IMEXHS provides medical imaging software to healthcare facilities. IME today announced that its PACS technology (HIRUKO essential software suite) has gained approval from the Thai Food and Drug Administration (FDA).
IME has received its first order for the Siriraj Hospital's Mobile Stroke Unit located in Bangkok. The company will provide the PACS system and Universal Viewer to Siriraj's Stroke Unit for quick brain image access. IME's flexibility and modern technology have gained this contract from Thailand. The contract is volume-based and billed in USD.
Woolworths Group withdraws its non-binding proposal to acquire API