Neurotech International’s new non-executive chairman Brian Leedman has said he is switching the company’s focus to cannabis treatments for cognitive disorders, rather than medical devices to treat them.
Leedman, the founder and executive director of ResApp Health and former WA chairman of Ausbiotech, joined Neurotech on October 19.
The company has been commercialising its flagship Mente Autism product, a brainwave-measuring headband that aims to ‘relax’ autistic childrens’ minds.
Leedman told Stockhead: “Despite having been on the market for a few years, it has not been commercially successful to date.”
Now the company will be using the Mente device to monitor patients in clinical studies involving ‘unique’ cannabis strains that Neurotech licensed from an Australian hemp grower in July as a treatment for neurological conditions such as autism and ADHD.
In September, Neurotech began in vitro cell studies to assess the neuro-protective, anti-inflammatory and neuro-modulatory activities of seven of the special cannabis strains.
The plan is to bring the cannabis strains that express neuroprotective qualities in human cells into human trials early next year.
“There are some advantages in terms of being in the cannabinoid space, versus an unproven drug,” said Leedman.
Neurotech’s Mente headbands will be part of the clinical trials at Monash University hospital. Researchers will use them to analyse the neurological responses in children taking the drug.