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CBD Science launches funding round to advance cancer pain treatments

CBD Science has announced the launch of a funding raise to help advance cannabis-based treatments for cancer pain.

UK-based CBD Science Group has launched an EIS-approved Series A funding round of £2m that will go toward research and development, ongoing clinical trials, working capital, as well as production and supply chain purposes.

The company, which recently received endorsement from the UK’s National Cancer Research Institute’s (NCRI) Living With and Beyond Cancer (LWBC) Executive for its Real World Evidence study into the role that cannabinoids can play in treating cancer-related pain.

The Real World Evidence study is a peer-reviewed clinical trial that seeks to quickly deliver approved therapies to patients in need.

CBD Science CEO, Dr Michael Raymont, commented: “Clinical Trial protocols have been written and peer-reviewed with highly sought-after endorsements from representative institutions, such as the National Cancer Research Institute (NCRI) as well as prominent patient groups.

“The company has consolidated partnerships with a number of leading oncology research centres across the UK, and intends to initiate patient enrolment in Q1 of 2022. Investments through this crowdfund will contribute to further R&D, ongoing clinical trial facilitation, working capital, and production/supply chain.

“Given the scale of suffering currently experienced by cancer patients, the opportunity to make an ongoing and very real difference to millions of people’s lives through this research is huge. Investment in CBD Science today provides the potential for synergistically rewarding outcomes for both investors and cancer patients.”

CBD Science has established a Clinical Advisory Board under the direction of its chief clinical advisor and former deputy medical director of NHS England, Professor Mike Bewick.

The company highlights there are an estimated three million patients suffering from cancer in the UK, with 367,000 new diagnoses per year, with pain affecting between 40 to 66 percent of those patients depending on the stage of their treatment. Alternative treatments for pain are usually opioid-based which often have harmful side effects such as dependence, addiction, and overdoses.

The negative impacts of opioids have led the National Institute for Health and Care Excellence (NICE) to recommend eliminating opioid use for people with chronic primary pain completely; however, without suitable alternatives, there are concerns of a continued UK Opioid epidemic.

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