Jeremy Sturgess-Smith, Finance Director of Ananda Developments Plc, presented at the Proactive One2One Investor Forum, highlighting the company’s shift towards addressing chronic pain through medical cannabis.
Since its IPO in 2018, Ananda has evolved from a broader investment focus to specialise in conditions like endometriosis, chemotherapy-induced pain, and fibromyalgia. Sturgess-Smith emphasised the significant potential, noting the £5 billion annual NHS expenditure on musculoskeletal pain alone. Ananda aims to offer better treatments for chronic pain, a notoriously difficult condition to manage, by leveraging medical cannabis, which has shown promising results without the adverse effects of traditional therapies.
In 2018, the UK legalised prescribed medical cannabis for specific conditions, sparking industry development. Ananda, seizing this opportunity, has initiated government-funded clinical trials for non-THC cannabis-based formulations targeting endometriosis and chemotherapy-induced peripheral neuropathy. These trials, conducted by leading experts at Edinburgh University, mark a crucial step towards NHS adoption.
Ananda’s strategy also includes utilising its cultivation facility for research, with plans for commercial production once economically viable.
The company’s unique position is supported by a strong board with healthcare and pharmacology expertise, aiming to create a sustainable competitive advantage through its intellectual property and patient-focused approach.
Ananda’s commitment to innovation in medical cannabis is poised to benefit patients with chronic pain, aligning shareholder interests with significant healthcare advancements.
*One point to note – the treatment of endometriosis via surgery doesn’t necessarily mean hysterectomy – it can just mean the surgery for removal of lesions.
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