MedLab Clinical plans European product expansion with wholly-owned subsidiary
Medlab Clinical Ltd (ASX:MDC) managing director & CEO Sean Hall speaks to Proactive Investors about the pharmaceutical company’s new European subsidiary and its development of products to treat chronic disease.
Medlab has 30 nutraceutical products (pharmaceutical-grade and standardised nutrients) globally, with another 10 in development, and two cannabis-based medicines NanaBis and NanaBidial which contain formulations of tetrahydrocannabinol and cannabidiol.
“There are financial advantages and concessions potentially available with the European Medicines Agency (EMA), if there is a European subsidiary,” Hall says.
He continues, “we are now exchanging paperwork with the EMA and trying to formalise what could be a significant discount on their drug registration fees moving forward, so that we can move beyond pathway development and actually formalising it with the regulatory agency for approved claims in Europe.”
Medlab has 30 nutraceutical products (pharmaceutical-grade and standardised nutrients) globally, with another 10 in development, and two cannabis-based medicines NanaBis and NanaBidial which contain formulations of tetrahydrocannabinol and cannabidiol.
“There are financial advantages and concessions potentially available with the European Medicines Agency (EMA), if there is a European subsidiary,” Hall says.
He continues, “we are now exchanging paperwork with the EMA and trying to formalise what could be a significant discount on their drug registration fees moving forward, so that we can move beyond pathway development and actually formalising it with the regulatory agency for approved claims in Europe.”
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