The history of biotech teaches us many lessons.
If you want to be successful, you can’t be a one-product company and you need to be part of the mainstream of world health issues that surround us.
These considerations have shaped Medlab’s strategy and are borne out in our 2018 milestones.
We live in a world of chronic diseases, most brought on by our lifestyle, and medical science generally hasn’t come up with quick answers despite there being significant community need.
So, we’ve made this area our mission, looking for ways to combat depression and obesity, improve heart health and manage pain without opioids and their inherent side effects.
We’ve also adopted a portfolio approach to our R&D program, as a way of spreading risk to achieve returns.
- using our microbiome research to develop drug candidates and nutraceuticals, from which sales help to fund research,
- developing cannabis-based medicines as an alternative to opioids,
- bringing in adjuvant therapy as appropriate
- and developing a device for medicine delivery (NanoCelleTM).
Our commercial strategy also encompasses looking at markets beyond Australia and discussing with “big pharma” possibilities of partnerships to capture the full potential of our research.
This “Year in Review” table shows how we’re progressing along these lines:
A couple of things the announcement schedule doesn’t cover are the way in which Medlab’s Nutraceutical range is being developed, nor the commencement of discussions with regulators in the US and Europe to initiate consideration of our cannabis-based medicines for those markets.
The research-based nature of Medlab’s products makes them natural candidates for professional pharmacies, a market in which we’re expanding, along with other partnering opportunities.
Recent pathway meetings with the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have opened up the potential for fast-tracking registration.
A feature of focusing on current chronic diseases is that governments are supportive of promising research in these areas and are prepared to consider fast-tracking of what in the past have been decade long clinical trial processes.
This is only available once human trials have begun and demonstrated safety and efficacy, a route Medlab is pursuing, creating more opportunities to report to you in the year ahead.
To all, have a safe and healthy festive season, looking forward to catching up in 2019.
Thank you for your support.