A medical cannabis company focused on developing a cannabinoid-based treatment for post-traumatic stress disorder has filed for a U.S. provisional patent.
On Monday Allied Corp. (OTCQB: ALID) said the patent application covers its proprietary products ALID-10, ALID-11 and other novel cannabis-based compounds designed to treat PTSD and other mental disorders.
In June, Allied started Phase 1 clinical trials to test how ALID-10 and ALID-11 could be used to treat PTSD. Phase 1 clinical trials are used to test the safety, side effects and best dose of a new drug on healthy volunteers. Results from the trials have not yet been released.
Allied is an international cannabis company that researches how cannabis can be used in pharmaceutical and natural treatments. It says treating PTSD is one of its top priorities.
“The filing of this patent application supports our strategy of developing novel and differentiated cannabis derived pharmaceuticals for PTSD,” CEO Calum Hughes said in a statement. The filing will help strengthen the value of the two compounds in clinical trials, and is an important step for in the company’s pharmaceutical development strategy, Hughes said.
After the Phase 1 clinical trials wrap up and Allied secures an Investigational Medicinal Product number for commercialization, the firm will start looking for a large pharmaceutical operator to partner with, he added.
The British Columbia-based company also runs the Allied Charitable Foundation, an organization for first responders and veterans suffering from PTSD. The foundation’s website says it helps prevent suicide by offering holistic therapies. One of those therapies offered to Canadian veterans is a retreat to Quadra Island, B.C., where people suffering from PTSD can work on building a support network while learning yoga, mediation and breathing to help reset their nervous system, according to the website.
Top image via Deposit Photos