Medlab Clinical - NanaBis – now with synthetic CBD and THC

Following the company’s transformation to a pureplay biotech, Medlab Clinical has focused on the development of key asset NanaBis, a 50:50 micellar formulation of CBD and THC, in the treatment of cancer-induced bone pain. Based on recommendations from the FDA, Medlab has switched to using synthetic active pharmaceutical ingredients (APIs) in NanaBis and is imminently expected to approach the regulators for approval of a Phase III trial. We expect a recently compiled drug master file (DMF) for NanaBis to support this application. To fund its development ambitions, the company is now pursuing a dual listing on the US Nasdaq stock market, pending shareholder approval. We value Medlab at A$239.8m or A$0.70 per share.