Medlab Clinical - Novel drug delivery and cannabinoids against pain

Medlab’s proprietary platform, NanoCelle, is a patented nanomicellar formulation that can improve the delivery of drugs. Medlab’s lead product is NanaBis, a combination of THC and CBD (1:1) cannabinoids encapsulated in NanoCelle particles, which enable a convenient buccal spray formulation. A recent breakthrough was Medlab’s announcement that it had successfully produced a synthetic version of NanaBis, which will allow it to move away from a botanical extract. Once the product reformulation is completed (guidance is eight to 10 months), NanaBis will re-enter clinical development (potentially Phase III) as a fully synthetic, non-opioid pain relief drug optimised with proprietary delivery technology aimed at a vast market. Our valuation of Medlab is A$201m or A$0.59/sh.