The Medlab Clinical Ltd (ASX: MDC) share price jumped 10 per cent as the company announced plans to test its cannabis product in Sydney in a trial the company claims is a world first.
The news comes on the back of an announcement made by the Therapeutic Goods Administration (TGA) stating that it has changed its Special Access Scheme to allow medical practitioners to use the type of cannabis medicine that Medlab is working with.
This clinical trial of Medlab’s cannabis-based medicine NanaBis product is believed to be the first of its kind in the world, according to the company.
The trial is planned to take place at Royal North Shore Hospital in Sydney.
It is to be conducted under the supervision of Professor Stephen Clarke OAM, a medical oncologist and professor of medicine at the University of Sydney, according to Medlab.
Patients in the trial are expected to be seriously ill oncology patients