Avecho Biotechnology Limited announced that it has commenced patient dosing for its Phase IIa Study examining whether topically applied cannabidiol (CBD) can provide relief from symptoms of osteoarthritis. The proof-of-concept Study is being run by Principal Investigator, Dr. Daniel Lewis, from the Daniel Lewis Rheumatology Centre and Co-Investigator, and Professor Iain McGregor, from the Lambert Iniative, Australia's leading research group for the discovery, development, and optimisation of safe cannabinoid therapeutics. The Study uses one of Avecho's proprietary formulation vehicles incorporating its TPM® technology.

This formulation has already been shown to increase the dermal absorption of CBD in laboratory experiments by five times. Fifteen patients suffering painful arthritis of the fingers or thumb have successfully completed their baseline assessments and have now begun their treatment regimen. The topical formulation will be applied to painful joints of the fingers and/or thumb each day over a four week period.

Assessment will include pain scores, functional scores, and assessments of grip strength using a dynamometer. High level results from the Study are expected Second Quarter 2022. Positive results would support the further clinical development of a topical CBD product.