FOR IMMEDIATE RELEASE
Greenspace Labs is pleased to announce the funding of a fifty50 person pilot clinical trial to study the effectiveness of a cannabinoid-based treatment for Irritable Bowel Syndrome (IBS).
The pilot study, set to take place in Europe, is designed to assess safety and efficacy of the formulation in human subjects. The trial will enroll fifty patients and will start this year and expects to meet the enrollment target before the end of 2023.
“We are excited to be part of this clinical trial, which has the potential to unlock a new, safe and effective treatment for a condition that affects millions of people worldwide. We believe that Greenspace Labs’ expertise in cannabinoid-based treatments and the high-quality design of the trial will yield important insights into the potential of this promising therapy,” said Piotr Wiliński, CEO of Medi Ventures, the funding body for this study.
The potential for a new IBS treatment is significant, as the market size for therapies is estimated to reach $8.3 billion by 2033 and there are currently no commercially approved products utilizing cannabinoids. If successful, this trial could pave the way for a safe and effective treatment option for the millions of individuals suffering from IBS.
“We are grateful for the support of Medi Ventures and excited to take this important step towards developing a new treatment option for IBS,” said Duncan McLaren, CEO of Greenspace Labs. “Our team is committed to conducting rigorous research to ensure that our treatments are safe and effective for those suffering from this condition which can severely impact a patient’s quality of life.”
About Greenspace Labs Inc.
Greenspace Labs is a mission driven organization to bring safe and effective cannabinoid-based treatments to market for a range of diseases. The company aims to address the lack of standardization, quality control, and dubious health claims by taking a rigorous scientific approach to research and following the evidence to develop meaningful therapeutics.
About Medi Ventures
Medi Ventures is a seed investment VC fund active in the area of medical technologies. We support projects in the proof of concept and the proof of principle phases which want to develop their technology and products in Europe and aim for a global market. Close cooperation with US investors provides access to a broad range of medical experts and potential second round deals and gives the opportunity to develop invested projects in the US.